Principles of Marketing Essay

The course content includes a study of the relationship between marketing and society, nature and functions of marketing, marketing management processes, marketing tools, the markets, and the consumers. Course Objectives The main goal of the course is to provide an overview of the basic principles underlying modern marketing theory and practice. It will provide participants with an understanding of the analysis that is necessary for taking marketing decisions, and the wide range of factors (and interactions of those factors) that need to be considered in the design of a marketing program. Students should come away with this course with an understanding of the marketing system and its role within the Malaysian economy and within an individual firm by studying how products and services are planned, priced, promoted, and distributed in order to satisfy consumers’ wants. Learning Outcomes Upon completion of the course, students should be able to: ? define and apply knowledge of the key marketing concepts. Please dress decently and appropriately (according to university’s dress codes) when attending classes. ? Group projects ; Assignments There will be group projects and assignments. For group project, work together with your group members and at the end of the project your group members will assess your contribution to the project. You are expected to do a group presentation before submission of written copy during the semester. Assignments will be uploaded in UNIEC. In class assignments must be submitted on the specified date otherwise you may be penalized for late submission. If you encounter any problem to submit assignments on the specific date, you are required to inform the lecturer within 2 days of the specified date. For any type written assignments given, the format of the paper should be as follows: ? A cover page with your details – Name, Student ID and Sections ( as registered in CMS) ? Font: Time New Roman , size 12 with 1. 5 spacing ? Include a reference page for every assignment that you submitted. ? Forums Students are required to participate in ALL 3 forums posted by the Course Leader and marks will be assigned based on the quality of the discussion. ? Accessing/ Checking UNIEC Virtual It is utmost important for students to access and check their UNIEC Virtual for any updates and information pertaining to the course regularly throughout the semester. Ignorance is NO EXCUSE. Examination Format Final examination will be a three hours-examination. The exam will evaluate your level of understanding and knowledge acquired in this course. The question formats may consist of multiple choice, true-false, short essays, and case-based problems. Week Topics Covered Overview 1 2 3 4 Topic 1: Marketing: Managing Profitable Customer Relationship Topic 2: The Marketing Environment and the Marketing Information Topic 3: Consumer Markets and Consumer Buyer Behavior Topics/Activities Remarks/ Deadlines Introduction. Class activities: – Getting to know. – Overview of course plan. Marketing: Managing Profitable Customer Relationship ? Definitions of marketing ? Basic concepts of marketing ? Evolutions of marketing ? Relationship marketing ? Marketing strategy and the marketing mix ? Marketing Challenges in the future Read: ? Kotler: Chapter 1 ? Harley-Davidson case. Chapter preview p158. Class activities: ? Discuss reading materials Topic 1 ? Discuss Harley Davidson exercise. The Marketing Environment and Marketing Information ? Company’s Microenvironments ? Company’s Macroenvironments ? Marketing research process Read: Forum 1 ? Kotler: Chapter 3 ; 4 ? Real Marketing 4. 2 ‘Tracking consumers on the Web: Smart targeting or a little creepy’. p 151 Class activities: ? Discuss reading materials Topic 2 ? Discuss ‘Prius: Leading a Wave of Hybrids’ case Consumer Markets and Business Market ? Consumer Buying Behavior ? Consumer Decision-making Process ? Factors Affecting Consumer Buying Behavior.

Johnny Cupcakes Essay

Johnny Cupcakes is a multi-million dollar clothing brand. The brand was founded in 2001 by Johnny Earle. One of Johnny’s acquired nicknames was Johnny cupcakes. He â€Å"thought it would be funny to make a couple random shirts that said ‘Johnny Cupcakes’ on them for the fun of it† (Earle, 2012). After massive interest in these shirts, he decided to continue to make more and change up the designs. In 2001, Johnny stated, â€Å"the band I was in, On Broken Wings, finally got signed to a record label and we began to tour full time† (Earle, 2012). This opened up Johnny and his t-shirts to a larger crowd of customers in different parts of the country. This boosted the brand’s popularity and Johnny decided to quit the band and focus all of his time, effort, and attention on his t-shirts. Johnny ended up going to trade shows in Las Vegas and eventually â€Å"ended up getting carried by shops in Japan, Europe, and Canada in addition to a few other US locations† (Earle, 2012). Johnny had a turning point moment at that very same trade show later on that year. He realized people didn’t like having the same things as others and that they enjoyed uniqueness. At this point Johnny made the decision to pull all his shirts from retail stores. Earle 2012 stated that he â€Å"decided to make all of his t-shirts limited edition and exclusive, only selling them through his website† and later on in his own retail stores. As the Johnny Cupcakes brand grew, Johnny opened up stores in Hull, MA; Boston, MA; Las Angeles, CA; and London, England. Johnny states that â€Å"Above all, I’ll continue to focus on enhancing my customers’ experiences through my stores, events, website, designs, and packaging. I will never ever sell my brand to investors for all the money in the world. I think you’ll find that things will only get more interesting from here†¦Ã¢â‚¬  (Earle, 2012). The Johnny Cupcakes brand to some can be described as streetwear. Hundreds, 2011 defines streetwear as â€Å"a genre of contemporary apparel, united between sportswear and military looks, and is one that speaks to a spectrum of subcultures (skateboarding and hip-hop mostly).† Some of Johnny Cupcakes major competitors are also streetwear brands such as Us Versus Them, Reason, Benny Gold, Situationormal, Flying Coffin, Clot, Diamond, Fuct, Alife, The Hundreds, A Bathing Ape, Supreme, and Rebel8 among others. These companies not only produce unique designs and clothing, they have a fan base, and what some might call a cult following. They represent more than just a t-shirt. They differentiate themselves by their designs, material, limited edition collections, and the customer experience. Johnny Cupcakes top products are his limited edition t-shirts, but the company also sells sweatshirts, hats and accessories. One of the things that make JC stand out is their packaging. The suppl ies the company needs and uses are not just clothing/accessory based, but just as important is their packaging. Johnny Cupcakes uses bakery style boxes with their cupcake and crossbones logo on it. The company also uses specially made tissue paper to wrap the bought goodies up in. The tissue paper is also marked with the JC logo. The are two major external factors that greatly influence Johnny Cupcakes as a company and those are the economy and trends. Since Johnny Cupcakes offers â€Å"luxury† items (those items that consumers don’t need, but rather want), the economy can play a significant role in their profits. When times are tough, like in an economic recession, the majority of people watch their money more closely. These people may choose to only buy things out of necessity rather than splurge on things they want. Another big obstacle that JC has to stay on top of is the trends of their market. Clothing styles and designs come and go, therefore, Johnny Cupcakes needs to stay at the forefront of what their target market likes otherwise they could easily become extinct. One way JC battles these two external factors is making every shirt limited edition. The limited edition status gives the feel of exclusiveness. People not only crave exclusiveness, but will pay top dollar for it. â€Å"Because they’re collectibles and not just apparel, customers are willing to pay $60 for a Johnny Cupcakes shirt–and even stand in line for a new release like kids waiting for concert tickets† (Spaeder 2007). This exclusiveness plays off of our cultures social classes. Most Americans want to be in a better social class. Exclusiveness is a trait that is common in the highest of classes. The limited edition shirts not only sets the standards for someone’s social status, but also keeps inventory at a low, making sure the products that are produced are sold. Having limited edition shirts erases much of the risks and fears of the changing trends of JC’s market. Since there are only a handful of the shirts available, they are long gone befo re the design and style gets soggy. Also, this allows the company to be very flexible with the changing market. The two major internal factors that impact the organization are how they enhance the customer experience and their product packaging. These are two very important factors that help create the Johnny Cupcakes brand. They are part of the JC culture and without them, the brand wouldn’t be what it is today. Part of the customer experience lies in JC’s three retail store locations. â€Å"They’re set up just like bakeries, complete with glass display shelves, employees wearing aprons and the smell of vanilla frosting in the air† (Spaeder 2001). During big releases or setting up weekend pop-up stores, Johnny himself will be there to greet and talk with everyone of the customers that walk through his store. This again is part of the experience and connection he wants his fans to feel when they think of the Johnny Cupcakes brand. Johnny thinks â€Å"nice packaging sets an experience, a memory, or a safe-keeping that is sometimes just as important as the product it self. I’m a sucker for nice packaging† (Earle, 2012). When conducting a SWOT analysis of Johnny Cupcakes, some of the company’s strengths, weaknesses, opportunities, and threats have already been discussed. JC’s major strengths are the exclusiveness it personifies by selling limited edition shirts and the customer experience it provides. One of its major weaknesses is the fact that it only has three retail stores and an online store. If it were to grow (and being a multi-million dollar business it has the resources to do this) it could reach more of a customer base and increase not only its fan following, but its sales as well. A huge opportunity that Johnny Cupcakes has is the fact that it has done several successful collaborations with other companies including Nickelodeon and Hello Kitty, which expands its customer and fan base. As with all companies, a threat is competition. If JC can stay authentic to its audience then it will overcome the competition. As stated earlier, since JC is a luxury brand, the economy and trends are another threat. Listening to their market will definitely help subdue these threats. One of Johnny Cupcakes biggest resources and assets are its customers. Johnny Cupcakes has not only been able to acquire customers, but also fans and audiences (which is much more powerful). The reason the JC brand has been able to do this is because of the experience a customer gets when going into a store or a pop-up shop. When a customer sees their Johnny Cupcakes shirt they remember an experience they had when purchasing the shirt. I personally have two JC shirts (one was given as a gift so I don’t have an experience to associate with that but my parents, who bought the shirt for me do). I do have a vivid recollection of an experience I had when purchasing my first Johnny Cupcakes t-shirt at a pop-up shop on Martha’s Vineyard. There was a line of people waiting at a small bakery for it to open its doors. Everyone was unsure of what the t-shirts would look like because the designs had not yet been released. Not knowing what shirts will be sold definitely gives a little sense of excitement and surprise; and being excited about a brand goes a long way with customer loyalty. The waiting fans were given diner-like menus to see what shirts would be available. This definitely embodies the Johnny Cupcakes culture and experience. Once the doors were open to the bakery only a few people were allowed in at a time. This also gave the impression of exclusiveness. The limited edition shirts available were all Martha’s Vineyard related. Not only is MV a huge tourist location, but being a resident of the island I had a sense of pride and being able to wear something relating to the island meant something to me, as I am sure it did to others, whether they were residents or tourists gaining a unique souvenir. After purchasing the shirt and leaving the bakery, I was greeting outside by Johnny Earle himself who not only took a picture with me, but also signed my shirt. My parents had a similar experience, telling me what a meaningful conversation they had with Johnny. Every time I pull out my JC t-shirt, I remember my unique experience of t-shirt buying. Johnny Cupcakes is a differentiation strategy user that sells an experience, along with his products. The way the business is run creates fans. JC leverages the company’s resources, the customer experience, to create fans and a following of the brand. There are a handful of such loyal fans that fly out to all his releases to be able to experience them and not miss out on any product or â€Å"show.† JC, on a smaller scale, reminds me of the cult following of The Grateful Dead. Deadheads knew each show was unique and didn’t want to miss out on any one of them. There are many Johnny Cupcakers who feel the same way. On March 24 of 2011, Johnny Cupcakes went international and opened up a store in London. Johnny had previously tested the waters in London by way of pop-up stores. His store in London was a huge hit, and he plans on a huge one-year celebration. Johnny opened up his store in London the same way he started is brand and opened up his other stores in the USA, with no investors, partnerships, or alliances. He started off small and threw his profits right back into his brand. One of the things Johnny Cupcakes prides itself on is not having to use investors or other companies to grow their brand. Part of this is what makes the brand who and what they are today. By staying authentic and listening to their market, Johnny Cupcakes will be continue to be successful in the years to come. With more years of success under his belt, Johnny may want to fur ther expand his brand in the global market. References Earle, J. (2012). Story. Retrieved from: http://www.johnnycupcakes.com Hundreds, B (2011). The 50 Greatest Streetwear Brands. Retrieved from: http://http://www.complex.com/style/2011/06/the-50-greatest-streetwear-brands Spaeder, K. (2007). By Popular Demand. Retrieved From: http://www.entrepreneur.com/article/177912

Synthesis topic Essay Example | Topics and Well Written Essays - 1250 words

Synthesis topic - Essay Example † The discussion takes the form of an analysis, with a focus on unearthing the causative factors for the declining state of the American economy, while seeking the possible remedy to the situation. Thus, this discussion elaborates on the factors hindering the desired performance of the US economy, while suggesting the remedies as presented by the two articles. The essence of selecting this topic is because it is a current issue affecting America, and it is vital to understand the causes of the situation. Most importantly, it is necessary to understand the way forward. Discussion Having been considered the world’s largest trading nation, and having been ranked among the top wealthiest countries of the world, it is expected that the economy of the US should be performing better than the current situation (Kuhl, 44). The wealthy nature and the ability of the US to create employment opportunities over the years have attracted many immigrants, who come to the country to seek for employment opportunities. ... According to a survey carried out by the Institute for Supply Management Survey, the state of the manufacturing sector in the US has continued to contract (Summers, 53). It was observed that manufacturing firms hired the lowest number of workers starting late 2009, an indication that the state of the sector is wanting. Historically, the national factory activity for the US has always ranked above the 50 digit mark. However, in a clear indication of the dangers facing this sector, the index fell to 49.8 going by the index for July 2012. This crashed further to a 49.6 digit index according to the August 2012 data (Kuhl, 47). Considering that the manufacturing sector is among the most dependable and promising sectors of the US economy, this situation raises a red flag that things are not going in the right direction. The index presented above indicates that the ability of the US economy to export products to foreign countries has continued to shrink, posing a danger to its trading secto r, which also ranks as the world’s largest (Summers, 58). The worrying nature of the US economy is indicated by the current unemployment rate. Historically, the unemployment rate of the US has averaged at 5.3% (Summers, 33). However, Kuhl alleges that going by the data released by the US Bureau of Labor Statistics, the unemployment in the US stood at 7.9% in August 2012 (Kuhl, 68). This puts the number of the unemployed people in the US at 12.3 million. The growth in the number of employment opportunities created by an economy indicates it health status. However, considering that the US trade deficit has been increasing, it has been importing more than it exports

Japanese colonialism was fundamentally different from western Essay

Japanese colonialism was fundamentally different from western colonialism. Do you agree Discuss - Essay Example Such, it cannot be generalized that all colonial nations follow the same form of colonialism that bears the same geopolitical meaning and practice across regions and continents. This fundamental difference in colonialism can be best illustrated in the case of Japan when contrasted with its colonialist counterpart in the western part of the world where its colonialist differences were identified in this paper. The most plausible cause that can be identified for this difference was that Japan jumped in the colonialist foray later than its western counterpart that it had an implication why colonialism in the East, particularly Japan, fundamentally differed from its counterpart in the West. It can be surmised that while the west has already a deep experience of colonizing, the idea of colonialism was only impinged into the consciousness of Japan in the 1870’s with the Meiji Restoration (Myers and Peattie, 1984) which has an implication on how it exercised its power and prerogative over its colonized countries. Japan’s exposure in colonialist effort was short while its western counterparts had already a long history of colonizing exploits that stretched as far back as 900 A.D. with the crusades. This wide gap in terms of colonizing experience has an implication on Japan’s motivation, purpose and method of colonizing that fundamentally differed from the West which will be elaborated in this paper. ... II. The Fundamental Difference of Japanese Colonialism from Western Colonialism A. Timeline and motivation for being a colonial power The western colonizers have a very long and deep experience in colonizing. While Japan as a country was still struggling among itself in 900 A.D., Europe has already embarked on a crusade to reclaim the Holy Land from the Turks and Saracens in the Middle East. Needless to say, the West already has already a deep experience with colonizing while Japan only learned the idea of colonialism in the 1870’s. It is also important to note that before the Meiji Restoration in the 1870’s, it came from a 200 year isolationist policy of the Tokugawa Shogunate and as such, was economically and military inferior compared to the west. In addition, Japan began with the same disadvantages just like its neighboring Asian countries. Also, just like any other non-European states, it was forced to sign unequal treaties that chafed the ire of its nationalists a s an infringement of its national sovereignty. Moreso, when Commodore Matthew Perry of the United States came to Japan in 1853 with its fleet that forced Japan to open itself to trade and end its self-imposed isolation (Myers and Peattie, 1984:78). This made Japan realize how backward they were and prompted them to embark on a nationalist endeavor to strengthen itself and become a respected country. This sentiment was recorded by a memorandum of saga samurai, Eto Shimpei in 1856 that â€Å"what was required . . ., was a long-range plan to utilize the talents, not merely of all Japanese, but of talent wherever it might be found in tools, in arms, in medicine, in land development, in astronomy, and so on, should be utilized

Raise or Lower Tuition Essay Example | Topics and Well Written Essays - 1000 words

Raise or Lower Tuition - Essay Example On that note, we are going to comprehensively study the ways in which this institution can generate more income, for instance through the increase of tuition fees among other strategies that need to be undertaken in a bid to achieve this goal. Evidently, another way in which in the nobody state university can raise its income is through the reviewing of some of the mechanisms that involved in the enrolling of students into the institution. Notably, in the study of the manners in which institutions of higher learning can increase revenue, it is essential to discuss on the enrollment exercise since the major earner of capital in this line of business is largely dependent on the number of individuals that enroll in the particular institution which in this case is the nobody state university. Consequently, in the subsequent sections we are going to highlight some of the ways that revenue can be increased in this institution giving account of the impact they will have in the institution a s whole. Will an increase in the tuition fee automatically contribute to an increase in revenue? From a literal point of view, a rise in the tuition fees will result in the increase in the revenue in the institution of higher learning; nobody state university. ... Thus, in the case of lower population, the capital generated may not be as pleasant. On the other hand, high tuition fees may cause huge loses. On a similar theme, if the tuition fees are raised by significantly with comparison to other educational institution, the enrolment rates will drop and as a result the revenue collected will be less. Furthermore, with high tuition fees many students who are enrolled may opt out in search of other institutions that offer favorable fee structures and therefore it follows that huge revenue loses will be recorded. Although, an increase in tuition requires an increase in revenue generation, it is essential to monitor the margin of the rise to avoid exploitation of the individuals in the educational institution; students who are the major earner of capital. Describe conditions under which the revenue will rise? Apparently, one of the most logical approaches to increase the revenue of nobody state university, is the incorporation of business strateg ies founded on the principle of unit elastic demand. On that note, this business principle postulates that, a change in the price of a commodity results into an equal change in the quantity demanded for. In this case, incorporation of this business strategy into the education institution requires that, an increase in the tuition fee will consequently lead to the increase in the revenue collected since the enrolment rate will increase due to an increase in the demand for the educational services. On the same note, the rise in revenue will be attributed to the increase in the student population. Describe conditions under which the revenue will fall? The revenue collected

Democratic Republic of Congo & M23 Research Paper

Democratic Republic of Congo & M23 - Research Paper Example Africa somehow always has some bad stories for the international world. The continent has been extensively influenced by corruption and mass killings. African growth and development experienced significant decline ever since 1950s when decolonization actually began (Meredith, 2006). Recent violence attacks, improper use of national resources and massive violation of rules and laws done by the M23 rebels in Democratic Republic of Congo are examples of misery and corruption in Africa. However, the query is that how the country has reached to such a devastating state while on the other hand is it now able to maintain peace after the defeat of M23. In order to understand this situation it is important to first discuss the formation of rebellion organization M23. Congolese government signed a peace agreement with the rebels in country on 23rd March 2009 when initially they were recognized as the members of (CNDP) the National Congress for the defense of the People (Q&A: Who are DR Congos M23 rebels?, 2013). But later on they were named as M23 on the basis of the violation of peace agreement. Research indicates that these rebels are actually associated with an ethnic group called Tutsi which has its very close affiliations in the neighboring country Rwanda. Members of M23 started their activities in April 2012. These particularly involved huge crimes against humanity and the Congolese law, for instance, rape, summary executions and child recruitment. On the other side rebels justified their acts on the basis of the fact that they were not satisfied with their pays and the miserable conditions they were supposed to face in Congolese army. But the government officials argue that the real rebellion arose when Ntaganda was arrested and later he w as handed over to ICC (Q&A: Who are DR Congos M23 rebels?, 2013). Here, it is important to notice that M23 is only a ragtag army whereas the distance

Cultural communication Essay Example | Topics and Well Written Essays - 750 words

Cultural communication - Essay Example iously, the politician was attempting to tap into the cultural code of the working class, less educated sort of people that regularly use the term â€Å"redd up.† Since he was running for local government, he was able to use this very regional term, whereas a politician running for state senate or any higher position wouldn’t dare use this term, especially considering that people outside of this region would have no idea what this term meant. By using this term, the politician was saying, â€Å"hey, look at me, I’m just an ordinary person, not like the typical fancy pants politician that you can’t trust as far as you can throw.† One of my friends told me that he tried very hard to lose his â€Å"eh† that he was used to employ in his speech. His family had just moved from Canada, and one of the first things that the kids in his school noticed was his tendency to end sentences with the word â€Å"eh.† It identified him as an outsider, somebody that did not belong to where he currently was. Being a new comer at a new place was difficult enough for him and he worked very hard on assimilating to the local dialect. Beyond dropping â€Å"eh†, he also worked to reduce the drastically different vowel sounds, he used for words like â€Å"coach.† Especially considering the clique-ish nature of schoolchildren, my friend was trying to fit into the cultural code of his new school and country. The author notices acutely the extent to which his parents struggle with English, when speaking with white people. They seem very strained whenever they have to speak English and hypersensitive to any mistakes they might be making, at least to the five-year-old author. Their inability to speak English fluently places them in a different cultural code form their neighbors. The author has a hard time thinking of Spanish as a language as anything other than what is spoken at home. He refers to it as a â€Å"private† language, a language that is only spoken at home and never in public

Correlation Essay Example | Topics and Well Written Essays - 750 words

Correlation - Essay Example A negative correlation means that the changes in the variables are not uniform. In other words, when one variable increases the other decreases and vice versa. The correlation between different variable are in different cases are analyzed here. This analysis basically relates to the internet subsidies in Public Schools. "Policymakers and analysts have argued that public schools are a natural place to teach underserved populations about computers and increase access to new technology." (Goolsbee & Guryan, 2003). The correlation between the variable A and variable B of school lunch program can be seen first. The variable A is the number of students who are eligible for school lunch. The variable B is the amount of funding received by the school. Different types of correlation can occur between these two variables. A positive correlation between the two variables means that adequate funds are received by the school in order to provide lunch for the students at the school. This refers to the proper working of the system. A negative correlation between the two variables means that even though there are adequate numbers of students eligible for the lunch, the schools don't receive the necessary fund for providing the students with proper lunch. The third case is where the correlation between the two variables is minimal. This is rather a neutral case where the condition is that there are no eligible students and funds are not required by the schools. Correlation between subsidy and age of students There is a positive, negative and neutral correlation between the subsidy and age of students. Here the variable A is the impact of subsidy and variable B is the age of students at school. A positive correlation between these two variables means that the subsidy received by the school contains the students who satisfy the eligibility age for it. A negative correlation between these two variables means that even though the schools receive subsidy it does not actually satisfy the age criteria for availing the benefits. This means that the fund is directed not to the required area. Similarly a minimal correlation means that the schools don't satisfy the criteria only to certain extend and so they are not able to avail the benefits of the subsidy. Correlation between classrooms and student performance The intention behind connecting classrooms with the latest internet facility is to ensure better performance of the students. In this case the variable A is the number of classrooms connected with internet. The variable B is the performance of the students in the test conducted. The correlations between these two variables are very much relevant because the actual results of the spending are understood by this. A positive correlation means that the classrooms are connected with better internet facilities and the students are provided the most modern internet facilities in the classrooms and the performance level of the students is very higher in the test. This shows that the nation has benefited by investment in facilities. A negative correlation means the classrooms are connected with internet and the students does not show sufficient improvement in their performance. This is a failure. A minimal correlation means that there are neither internet facili

I Have a Dream by Martin Luther King Essay Example | Topics and Well Written Essays - 750 words

I Have a Dream by Martin Luther King - Essay Example He addressed America as he spoke on the behalf of his men (the blacks) accusing the nation of not being able to mete out justice to the black men and seeing its fulfillment was his dream expressed through the speech. Martin Luther King Jr. became a citizen of international repute despite his short span of life. Despite the confinement of the Afro American ghetto, the man came into the limelight of international significance by organizing his people and the country to bring them out from the bitterness of racial discrimination and subjugation towards a utopian period of freedom and fairness. After around 10 years his speeches and skilful oratory became significant in the public arenas. He fought against the moral problem, which posed a threat to the social order. In most cases he attempted to defend his contradiction to racism by addressing the ideologies of the founding documents of United States of America and the biblical notes of love and equality. The main point of his argument c entered on the fact that despite the documentation of the Emancipation Proclamation, the blacks had many reasons to be dissatisfied. This act has freed the blacks from slavery especially whose forefathers were separated from their homeland to serve tenures of bonded labor. He justified this dissatisfaction by citing the instances of social inequality everywhere around him, which contradicts what â€Å"came as a joyous day-break to end the long night of their captivity†. On one hand blacks had to face the brutal injustice of harassment by the police, rejection at hotels and black children faced discrimination at schools. The accusation of the Civil Rights Movement could be expressed in his words as follows: â€Å"But one hundred years later, the Negro still is not free.†¦ the Negro is still sadly crippled by the manacles of segregation and the chains of discrimination†¦lives on a lonely island of poverty in the midst of a vast ocean of material prosperity†¦.an exile in his own land† (‘I have a Dream’). This brought out the discrimination prevailing in the society. He used a metaphor of cashing the ‘check’ which he explained as the promise held by the Declaration of Independence towards every American citizen including blacks and whites alike. He concluded on this issue, saying that the Negro people received from their native land a ‘blank check’, which was marked as ‘insufficient funds’. He stressed on the point ‘Let the freedom ring’ from all corners of mountains and this went in line with his belief that there was actually sufficient fund in the treasury of opportunities in the nation. King preached advised his men to â€Å"drink the poisonous wine of hate† but at the same time called for non-violence to be the essence of their struggle as this is the struggle of the soul and not body (‘I have a Dream’). Later in the day the speech was transcribed for the press and the next day New York Times published, â€Å"Dr. King touched all the themes of the day, only better than anybody else. He was full of the symbolism of Lincoln and Gandhi, and the cadences of the Bible. He was both militant and sad, and he sent the crowd away feeling that the long journey had been worthwhile† (â€Å"I have a Dream†). The March on Washington for Jobs and Freedom on August 28, 1963 signified the unrest amongst the racial activists and civil rights campaigns. Luther King was arrested and wrote his letter from

Shakespeare Explication Essay Example | Topics and Well Written Essays - 750 words

Shakespeare Explication - Essay Example Their love can not be accepted by society, because the family has to approve it first. In this sense love is impossible and tragic. When lovers meet they can experience only "momentany" and momentary passions. Their encounters are short and painful, because they can not fully dedicate each other to the moment of pleasure. They are afraid that they might be seen or caught. That is why their union is "Swift as a shadow, short as any dream". Love is the primary idea around which the play is built up and throughout the scenes we audience is presented with different forms of love. Love is arbitrary and irrational. Compassion and kindness can also inflame passions. Where does this passage stand in the meaning of the whole scene 1 from Act 1. Lysander and Hermia are in love. However, her father Egeus is planning to marry his daughter to Demetrius and is very angry that she refuses. During scene 1 Lysander is trying to convince the public that he deserves Hermia and is equal to Demetrious. What is more he has true feelings to Hermia, whereas Demetrious had a recent affair with Helena. Regardless of his, Helena's tormented by love too, because Demetrious is indifferent to her. And in powerless attempt to win his love, Helena tells him about Hermia's and Demetrious plan to escape from Athens. Unfortunately, the more Helena loves Demetrious, the more he despises her. Love is unexplainable, because there is no reason why Demetrious should not love Helena. If Hermia chooses Lysander she will be punished, just like he describes "War, death, or sickness did lay siege to" true love. At the end of the scene Lysander tries to explain to Hermia that all lovers reach to such moment in their lives, and that this is the only possible course for the true love they have for each other. In Lysander's monologue he is prolific in metaphors to express the nature of love - it is "swift" it is fleeting like the "shadow" it is evanescent as a dream, it is quick as a flash of lighting in a midsummer night. The brevity of love described by Lysander forms the overall feeling that love can not be everlasting when lovers hide their emotions. The course of true love never runs smoothly. Class differences and family bonds "did lay siege to it". Even when love is mutual and is based on sympathy, it often meets the family disapproval. The memories and flashes of love "unfolds" and displays where is the heaven, blissful state and where is the bitter reality. The lovers can not be left alone, they have to be punished for their disobedience. From the background knowledge, love and law are opposed in the play - whether to obey the law and marry the one that your family prefers, or to flee and die for the one you love. Love and law are juxtaposed throughout the play, as well as the motifs of choice, freedom and social values. After the brevity of experiencing their

Effective Active Listening Skills Essay Example for Free

Effective Active Listening Skills Essay Effective active listening is a must in every communication process. Everyday, people engage in communication processes, but some fail to perform effective active listening skills. Neglecting this important aspect of communication can hamper communication. In the video clip, Planning to Promote Socially Appropriate Behavior, we see how effective active listening skills work to attain communication among the participants. Four teachers serve as participants in the video clip. They are kindergarten teachers who express the importance of teaching affective communication skills. Each teacher is given her chance to express herself to the group, while others listen intently. Notably, several factors affect the success of their communication process, among which is effective active listening. The communication takes place in the school. The teachers are seated along one edge of a long table. Although the table is long, they sit closely with each other, which makes it easy for them to hear the one speaking. This way, they did not have to raise their voices or stand to be recognized before they speak. The environment and position of the teachers notably affect the communication process. Since there is the absence of noise, we find the environment conducive to achieving communication. Obviously, the teachers have a common concept in mind of what needs to be discussed. This is very important in every communication situation. Setting a target for the group will help facilitate understanding. For instance, when holding a faculty meeting, the head should identify the agenda in advance. By doing this, concerns which are not relevant to the given topic may be avoided. Particularly in this meeting, the teachers are exchanging ideas on how to teach affective skills to students. One of the teachers expresses that most of the students she encounters do not show respect in communicating with peers. She feels that students should be taught the proper way to approach others, including their teachers. This statement serves as the lead for other participants to discuss ways on how they incorporate affective skills in their classroom. Aside from serving as the lead, this statement also limits the discussion to one single topic. As Lansberger (1996) notes, active listening requires focusing intentionally on who you are listening to in order to understand what the person is saying. This does not mean agreeing with, but rather understanding what is being said. Particularly, we can note that the teachers in the video achieve focus by speaking one by one. This makes the message come across clearly, making the flow of thought more comprehensible and organized, thus allowing for effective active listening. In the same way, this helps the audience summarize more easily the points raised. Also, according to Lansberger, active listening is present when the listener is able to repeat back in her own words what is said. This pertains to the feedback part. Before one is able to report what she listens to, there is the process of internal communication in which the person tries to â€Å"digest† the perceived ideas. For instance, when we are listening to a lecture, we sometimes hear ourselves repeat exactly what our teacher says. This is a sign that we are listening actively. In the video, we see that the teachers are able to follow the ideas of their colleagues. In addition, although they do not repeat what their colleague is saying, at one point, one teacher is able to complement the thought of the speaker. This is a sign of effective active listening, as the listener is able to construct the statement at the same time the speaker is trying to convey it. Another sign that demonstrates effective active listening is the listeners facial reaction. As one teacher speaks, we can note that others react by nodding, winking, smiling, and sometimes even bending slightly towards the speaker to hear more clearly. Moreover, they take down notes while someone is speaking. Taking down notes can sometimes distract the speakers attention, thus some speakers prefer to give handouts to allow the audience to respond well during a lecture. However, in the video clip, we see that by looking at the speaker while writing, the teachers are still able to maintain the rapport with each other. Therefore, the gesture of taking down notes does not affect the communication process in this particular situation. Although the teachers in the video clip demonstrate evidences for effective active listening, there remain some points to be improved. In particular, the participants who have shared their views could elicit the views of one speaker who did not talk. While it is commendable for the others, especially the teacher wearing a black blouse, to share their views, it would also help if they give a chance to the other participant who has not talked. Eliciting ones opinion or asking for clarifications (i. e. , asking, What do you think? ) can help detect signs of effective active listening. Through this, the speaker can check if the audience is truly listening. When the listener responds coherently to the speakers idea, we can note active listening signs. Otherwise, the speaker should find out factors that hinder effective active listening. Such factors may include outside noise, thoughts of the listener, or language barriers.

Male And Female Gender Roles

Male And Female Gender Roles Throughout history, people who are born as men are granted access to power, position and resources (Masculinities). Cultural norms of gender roles are taught to children by their family, peer group, and community (Masculinities). Based on sufficient research, this review of literature will first focus on the historical facts about how womens status is undermined by inequality and persecution because they were deemed as inferior biological beings (Inferiority). Subsequently, the review will also answer the question of whether women in the present have successfully achieved their rights and gender roles in society completely. At a surface level, womens rights have largely been won (Gaag 146), because more women are working, more girls are being educated (Gaag 146). However, this paper will also investigate how women today continue to experience discriminations and inequality as more than half a million die unnecessarily each year from the complications of pregnancy and childbirth (Gaag 146). Lastly, the final part of this literature review will examine how women have broken free from the gender stereotypes to achieve power in terms of work and family and its effects on men and society (Marshall). A. Historical facts about the Male and Female roles Beyond the physical differences between men and women and their different reproductive functions are separate sets of socially-determined behavioral norms and performance standards attached to each gender (Thomas). However, during the era of Greek Philosopher Aristotle, Womens status was very low (inferiority). According to Aristotle, the primary function of women was to carrying on the family tree, and tending the family hearth (inferiority). The reproduction of children, especially sons (inferiority), was the main purpose of women, and all of the mens social activities were off-limits to her (inferiority). In Aristotles theory of genetics, he proposed that children were made by something he called the substance, which was found in women, and the form, which came from men (Genetics). According to his theory, Aristotle suggested that the form and the substance did not mix together but the form had a magical influence on the substance (Genetics) In other words, the man supplies the su bstance of a human being, and the women is only the nourishment (Inferiority). From Aristotles point of view, it is only men who are complete human beings and can hope for ultimate fulfillment; the best a women can hope for is to become a man (Inferiority) However, Aristotles teacher, Plato, thought differently about women (Plato). Plato believed that women had a significant role to play in society, and he thought women were necessary for society to run smoothly (Plato). According to Plato, even though he believed that females were required to function in a working society, he continue to hold the position that women were no where close to equal to men (Plato) On the other hand, Plato realized that men may have been stronger then women physically but women had strengths that were far superior in other areas (Plato) For example, he believed that women are naturally maternal and these maternal skills made them better care takers for children (Plato). Similarly to Aristotles radical vi ew on women, French military leader Napoleon Bonaparte thought, women were made for men, and men for country, family, glory, and honor (Napoleon). In the 1800s, the idea of female equality received a setback in a series of laws known as the Napoleonic Code (Napoleonic). According to the Napoleonic Code, married women in particular owed their husband obedience, and were forbidden from selling, giving, mortgaging or buying property (Napoleonic). As time progress from the Ancient Greeks to the early stages of the last century, men continued to be regarded as the persons in charge of their families (Thomas). According to census, males were considered to be the head of the household by family members, and the power within the household was completely dominated by the male figure (Thomas) and other family members were defined by their relationship to the household head (Thomas). According to experts, womens responsibility of bearing children continued until the early part of the last century (Thomas). In 1941, over 83% of 15 years old or over had birthed a child and one in five had given birth to six or more (Thomas). Womens fertility continued to be disregarded by the society, and their prominent roles (Thomas) of giving birth and raise children within a male-headed family (Thomas) was unchanged. B. Present womens success and failure at achieving the rights and power According to experts, womens rights, in theory at least, are well established (Gaag 11) and women themselves are more aware of their rights (Gaag 11). However, even though the matter of gender equality between male and females has firmly been placed on the global agenda, we cannot hide the fact that for millions of women life is still very grim (Gaag 11). Although women are having fewer children, that is 50 per cent of women now have access to modern contraceptives (Gaag 11), over half a million women continue to die each year from pregnancy and childbirth related causes (rights). Researcher found that accounted for 41 percent of all births nationwide between 1993 and 2006 (Pittman), there are 62 percent of pregnancy-related deaths (Pittman). Despite the international agreement on womens rights, the denial of womens basic human rights is persistent and widespread (Rights). Like mentioned above, becoming a mother is still a dangerous business (Gaag 26). On the economic scheme of things, during the 20th century, the proportion of married women working for pay increased more than tenfold from less than 5 percent in 1890 to more than 60 percent in 1990 (Mundy 33). The proportion of women ages 25 to 54 who are working or looking for work stands at 75 percent, up from 35 percent in 1950s (Muddy 38) Even though women have expanded their work hours, battled discrimination, and improved their credentials at precisely the time when the rewards for these are greater than ever (Muddy 38), Poverty rates are higher for women than men (Cawthorne). In 2007,13.8 percent of females were poor compared to 11.1 percent of men (Cawthorne). It was also proven by experts that women are poorer than men in all ethic groups (Cawthorne). According to collected data, the trend that men are wealthier than women is very apparent (Cawthorne). This again ties to the fact that, despite some progress in womens wages in the 1990s, women still earn less than men, even for similar kinds of work (rights). Lastly, there is no doubt that more girls are being educated the gap between boys and girls enrollments has narrowed (Gaag 11). Women have improved their credentials precisely the time when the economy craves their skills and schooling (Muddy 53). By becoming well educated, women have raised the chances that they will be employed, and they qualify for much better job than they could have expected 30 or 40 years ago (Muddy 51). According to experts, education is a key reason why womens earnings have risen and why in recent recessions, the unemployment rate for women has been lower than the rate for men (Muddy 51). Through womens persistency, women have improved their prospects more than they realize (Muddy 51). C. The drastic change in gender roles and its effects on both genders While the stereotype of the male breadwinner is still alive in many peoples minds, experts say the reality is that a growing number of women are earning as much, if not more than, their husbands (Linn). In a matter of decades, the traditional male breadwinner model has given way to one where women routinely support households and outearn the men they are married to (Muddy 5). Not that long ago, in 1970, percentage of wives who outearned their husbands was in the low single digits (Mundy 6). The dramatic increases of women earners have altered the way male and female see each other (Mundy 7). Ironically, experts estimate that there are currently about 2 million working women whose husbands are unemployed and looking for work (Linn). The effect of the gender roles shift is most apparent in the male than the female (Muddy 14). In journalism and feminist literature of the 1980s and 1990s (Muddy14), experts found that men tend to resist womens rising economic power, even retaliate against it (Muddy 14). Similarly, one of the other reactions of men towards womens earnings is that men can quit, give up and stop trying (Muddy 14). For all the arguments about women opting-out when they have children, todays mothers- particularly educated ones- are overwhelmingly likely to be employed (Muddy 38). The roles of men and women seems to have shifted, and the earning power of wives compared to husbands has risen, steadily and strongly (Muddy 39). On the other hand, the rate of participation in housework labor increased steadily for men, while the rate for women remained the same (Marshall). Among married men with children, the participation rate rose from 54% to 71%. Furthermore, while the presence of a wife lessened mens involvement in housework in 1986 (single men had a participation rate of 61%, and married men 53%), 2005 saw roughly 7 in 10 married men, both with and without children, participating in housework (Marshall). According to data on men and women rate of participation in housework, married men with children spending significantly more time on housework, and married women spending significantly less (Marshall). Whereas women, The number of hours worked has risen (Muddy 39), and women are much more likely to be working full-time, year-round, than they were 40 years ago (Muddy 39). Experts predict, in the coming years, many women will feel pleased being the familys high earner. They husband will like it too (Muddy 140). Series of surveys shown that, men and women are both less likely to say that men should earn the money and women should take care of the children in todays society (Muddy 63). According to the gradual shift in gender roles responsibilities, its safe to say that womens earning power and the vitality and success signals (Muddy 15), will lead to a genuine breakthrough in the relationship between the sexes (Muddy 15). Conclusion: In conclusion, women came a long way in achieving their rights and ideal roles in society. Based on historical facts about male and female roles, females are the majority of humanity but are everywhere victims of systematic discrimination, oppression and sexual abuse (Oppression). Through their tenacity, women thrived as powerful individuals and economically and socially bypass men. However, according to data, womens gains have been made under threat (Gaag 11), and many continued to suffer from unfavorable conditions such as poverty, childbirth complications, and workplace discrimination. Despite these persistent disadvantages of the female sex, within a generation, more households will be supported by women than by men (Muddy 78). A revolution is under way (Muddy 65).

Curriculum Steiner Montessori

Curriculum Steiner Montessori Introduction As with most things in education, there is no agreed definition of ‘curriculum’. The way we understand and theorise it has altered over the years. A useful starting point for us here might be the definition offered by John Kerr and taken up by Vic Kelly in his standard work on the subject. Kerr (Kelly 1999, p.10) defines curriculum as ‘All the learning which is planned and guided by school, whether it is carried on in groups or individually, inside or outside school.’ There are many theorists who have studied child development and have designed curriculum’s from their own theories which they think will offer the best learning environment. This report will only examine three of various current curricula but offers an insight of how there is no real right or wrong way of how a child learns. The report will take a look at the ‘Steiner Method’, the ‘Montessori Method’, and finally it will discuss the ‘High Scope Method’, a more recently developed method. It will also provide examples on how some of the ideas of these methods are being incorporated into other childcare settings and curriculums. The Steiner Method There is over eight hundred Steiner schools world wide. The Steiner method is based on the philosophies of Rudolf Steiner and the education emphasises personal responsibility and social awareness. The central aim of the education is to equip young people emotionally, spiritually and intellectually, not only to meet the future but to play an important part in shaping it. According to Steiner’s philosophy, man is a threefold being of spirit, soul, and body whose capacities unfold in three developmental stages on the path to adulthood: early childhood, middle childhood, and adolescence. Steiner education differs from the mainstream in a number of ways. In a Steiner school there is no Hierarchy, teachers and parents work along together. Children do not start formal education until they are six or seven years old and they then stay with the same teacher for seven years. The teacher works with the student’s parents, often visiting the family home to allow parental involvement. Classrooms are filled with natural and organic materials. In a Steiner nursery, children typically play with simple unfinished, wooden toys rather than bright plastic ones, to allow their imaginations to develop. A Steiner classroom would have few books and few computers. The Steiner philosophy dictates that screen images hinder the development of thought and imagination. Colour is important to Steiners educational philosophy for helping childrens imagination to thrive so pupils are instructed carefully as to how to proceed through the colour spectrum (Lewis 2001). The huge difference between the Steiner method and other methods is that learning is directed by the teacher rather than the child. There is a huge emphasis on creativity and teachers will show children how and what materials they use. Teachers stress physical development through a ritualised dance form called eurhythmy. Another primary principle of the Steiner method is children do not start reading until their adult teeth have erupted, usually around age seven, which, according to Steiner, shows the child’s readiness to start formal education. Delayed reading is one of the most controversial issues surrounding Steiner education, and there is concern from some educators that children may miss out on their literacy and reading â€Å"windows† (Mogensen 2004). The Steiner method is one that is hugely different to other methods used in Nurseries and schools; therefore it is sometimes difficult to see similarities in other educational institutions. However you can see similar theories in the Montessori Method. The use of natural materials and the calm setting is one of the main principles that link the two methods. I have seen this in place at a Montessori primary school. The school was very quiet, and lots of toys and learning materials were made of wood and other natural materials. The school also adopted some of the creative ideas that Steiner follow. They let the children make their own story books instead of reading published books with ‘ready-made’ images, which encourages the child to use their imagination more widely. I think this is a great idea, as children are not tainted by a particular image of a person, animal, object or environment. Kettle Nursery, who follow a 3-5 curriculum, hold regular meetings with parents to inform them of their child’s development, and they also give parents opportunities to observe their child in the nursery. This promotes parental involvement, which is another of Steiner’s main principles. The Montessori Method The Montessori Method is an educational method for children, based on theories of child development originated by an Italian educator, Maria Montessori. The method accommodates all ages of children but it is applied primarily in preschool and elementary schools. It is an alternative type of method that harnesses the child’s natural ability to learn and is built upon the idea that children develop and think differently than adults. The Montessori Method supports all aspects of the Childs personal and social development. â€Å"From the moment the child enters the classroom, each step in his education is seen as a progressive building block, ultimately forming the whole person, in the emergence from childhood to adulthood. All focus is on the needs of the child† (Hainstock 1997, p.xiii). One distinguishing feature of the Montessori at the preschool age is that children direct their own learning, choosing among the sections of a well structured and stocked classroom including practical life, sensorial, Language, Math, Geography, Science and Art. The â€Å"Practical Life† area is especially for the very young child and teaches them how to care for themselves and their environment. Here, a child will learn to dress themselves, to pour, to wash a table, and to properly wash their hands, among other things. The â€Å"Sensorial† area allows them to use their senses to learn about the world. Here, a child will learn to judge different heights, lengths, weights, colors, sounds, smells, shapes, and textures. The language, math, geography and science areas provide a child with aids for their intellectual development. Exercises in body movement assist their physical development and their awareness of their body and what it can do. Many Montessori schools add such areas as music, art, dancing, sewing, wood-working and foreign languages to further enrich a child’s total development (Montessori 1912). In a Montessori school, a child teaches himself through their use of the specially designed Montessori materials. These are attractive, generally simple, child-sized materials that are self-correcting, that is, if a child makes an error, they can see it by looking at the material itself in this way; no adult is needed to point out their mistake and perhaps injure their self-esteem. The child learns to work alone and with others in a Montessori school. A child learns to follow the class â€Å"ground rules† and may often remind other children to follow them as well. Because they can choose their own work and do it at their own pace, a child has many opportunities for success; the Montessori classroom is non-competitive. They will also have access to plants and animals and will help care for them. The Montessori classroom is an attractive place in which a child can be free from adult domination and can discover their world and build their mind and body. The Montessori Method is unique. It is based on a sensible balance between freedom and structure specifically designed for the young child. It provides a pleasant environment with carefully devised materials that meet the child’s natural needs. It provides the overall guidance of a thoroughly trained teacher. The role of the teacher is to introduce children to materials and remain a â€Å"silent presence† (Montessori 1912, p.371) in the classroom. Montessori gives a child a strong basis, in their most formative years, for developing into a well-rounded, responsible, happy and fulfilled adult. From my experience in Kettle nursery, I can see how the curriculum incorporates some of the ideas that the Montessori Method follows. For instance, the children are fully encouraged to do things for themselves, and lead their own play and learning. The adult is to only serve as an assistant by supporting and extending their learning through play. They are also encouraged to clean up after themselves; washing up their snack dishes, cleaning the tables and tidying away materials once they have finished using them this is a very similar idea to the Montessori’s practical life idea. Another activity that allows children to experience practical life is when as soon as they enter the nursery they are expected to remove their outside clothing and shoes themselves, and at the end of the day they are expected to put it back on themselves. The High Scope Method The High Scope curriculum was developed in the United States of America in the 1960’s. It is one of the most common methods used there and in some other countries. The idea behind High Scope is that children should be involved actively in their own learning. The adults working with the children should see themselves more as facilitators than supervisors. The High Scope method is an â€Å"active learning† approach. This means students have direct hands on experience with people, objects, events and ideas. Children’s interests and choices are at the heart of High Scope based programs. They construct their own knowledge through interactions with the world and the people around them. Children take the first step in the learning process by making choices and following through on their plans and decisions. Teachers and parents offer physical, emotional and intellectual support. In active learning settings adults expand children’s thinking with diverse materials and nurturing interactions. High Scope has unique features that differentiate it from other early childhood programs. One is the daily plan-do-review sequence. Research shows that planning and reviewing are the two components of the program day most positively and significantly associated with children’s scores on measurements of developmental progress. This three-part sequence is unique to the High/Scope approach. It includes a short small group discussion during which children plan what they want to do during work time (the area to visit, materials to use and friends to play with). They are then given to time to carry out their plans and then they meet up again for another group discussion for reviewing what they have done and what they have learned. In between â€Å"do† and â€Å"review† children clean up by putting away their materials or storing unfinished projects. Children are very active and purposeful during â€Å"do† time because they are pursuing activities that interest them. They may follow their initial plans but often as they become engaged their plans shift or may even change completely (High Scope Educational Research Foundation 2007). The High Scope method also operates group time. ‘Small’ group time is a chance for the children to meet with an adult to experiment with materials and solve problems. Although adults choose the activity to emphasise a key experience, children are free to use the material in any way they want during this time. ‘Large’ group time is the time where children and adults come together for movement and music activities storytelling and other activities. Children have many choices and play the role of leader. In High Scope programs adults are as active in the learning process as children. A mutual give and take relationship exists in which both groups participate as leaders and followers, speakers and listeners. Adults interact with children by sharing control with them; focusing on their strengths, forming genuine relationships with them, supporting their play ideas, and helping them resolve conflicts. Adults participate as partners in children’s activities rather than supervisors. They respect children and their choices and encourage initiative, independence, and creativity. Because adults are well trained in child development, they provide materials and plan experiences that children need to grow and learn. Children and adults spend at least half an hour outside every day enjoying vigorous and often noisy play. They are free to make large movements running, jumping, climbing swinging rolling jumping yelling-all with energy. They collect and they garden. In extreme weather they do large motor activity indoors. Transition times are the minutes between other blocks of the day including arrival and departure times. The goal is to make transitions pass smoothly since they set the stage for the next segment in the days’ schedule. They also provide meaningful opportunities themselves. Children may decide how to move across the floor on the way to small group time. With a consistent daily routine, children know what is going to take place next. It is not unusual for them to announce the next activity and initiate the transition. Snack time allows children to enjoy eating healthy food in a supportive social setting (High Scope Educational Research Foundation 2007). Some of these daily routines that happen in a high scope nursery are quite similar to other curriculums. The idea of the child leading their own learning is incorporated into the Montessori Method and the 3-5 year Curriculum. I have seen this work well at Kettle Nursery. Another important element that I have seen in working action was the importance of health. Snack time at Kettle allows children to experience a healthy eating experience; including sugar free snacks, fruits and vegetables. It seems to be that in the High Scope Method, the child’s health is a very important aspect of the curriculum, which is very similar to the 3-5 years curriculum. Kettle Nursery provides the opportunity for the children to experience play outside each day. They encourage an active lifestyle which again is very similar to High Scope. At the end of they day at Kettle Nursery, the Nursery Nurse also spends a few minutes to discuss with the children what they did that day, this is a little similar to the High Scopes idea of ‘reviewing’. References Hainstock, E. 1997. The Essential Montessori: An introduction to the woman, the writings, the method, and the movement. New York: Plume Books. High Scope Educational Research Foundation. 2007. Curriculum. [Online] Available at: http://www.highscope.org/Content.asp?ContentId=1 [accessed 24 September 2007] Kelly, A. V. 1999. The Curriculum: Theory and Practice. Thousand Oaks: Sage Publications. Lewis, G. 2001. Rudolf Steiner. [Online] Available at: http://www.freedom-in-education.co.uk/Steiner.htm [accessed 24 September 2007] Mogensen, K. 2004. Eyes Wide Open. [Online] Available at: http://www.aeufederal.org.au/Publications/AE/Atmn04pp26-30.pdf [accessed 24 September 2007] Montessori, M. 1912. The Montessori Method. [e-book] New York: Frederick A. Stokes Company. Available at: http://digital.library.upenn.edu/women/montessori/method/method.html [accessed 14 October 2007] Bibliography Scottish Executive. 2001. Curriculum Framework for children 3 to 5. Dundee: Learning and Teaching Scotland. Tanner, D. 2006. Curriculum Development: Theory into Practice. New Jersey: Prentice Hall. Maria Montessori. n.d. Maria Montessori, MD. [Online] Available at: http://www.montessori.edu/maria.html [accessed 24 September 2007]

Iago’s Soliloquies and Intentions Essay -- William Shakespeare, Othell

Iago’s Soliloquies and Intentions In every play, there is at least one character that jumps off the page and begs for your attention. In The Tragedy of Othello the Moor of Venice by William Shakespeare, this character is Iago. Iago is a devious man, a liar, a manipulator, and a psychopath. It seems Shakespeare developed a very maniacal character but not one that is unreal. I feel as though we have our fair share of Iago’s in today’s society. Many politicians seem to fit into this category, manipulating people for manipulation sake. However, to me the most interesting psychopath of all, is in the play Othello. In this play, Iago is Othello’s trusted ensign. However, Iago is not what he portrays himself to be, to the characters in the play. In his soliloquies, he exclusively reveals to the audience his mal intent. He betrays Othello in the most deceitful ways, abusing Othello’s trust. Plotting against him, Iago seeks revenge on an unknowing Othello. One would conclude that Iago would have motive behind his ruthless and elaborate plans. However, it seems that Iago committed these amoral crimes, for power, for psychopathic reasons, and for sport. He has displayed his power over Othello by proving to himself, that he could in fact exploit those around him, distorting what they believe to be true. We will look into Iago’s soliloquies, dissect them, and discover his plans. Iago, the obvious villain in this love story gone array. Shows us his true colors from the beginning of the play. In act one scene one, Iago is speaking with Roderigo, he confides in Roderigo telling him â€Å"I know my price; I am worth no worse a place†. Here Iago is holding himself in high regard in an exceedingly conceited manner. He ... ...ful newly wed couple and destroyed them. In some respect, you have to admire how truly devious Iago is. He takes the innocent Desdemona and making her look so guilty when she did absolute nothing wrong. He successfully convinced Othello that Desdemona was unfaithful to him, so much so that Othello kills his innocent wife. Iago receives his title of lieutenant if only for a moment, and his revenge against Othello. Iago throughout the play uses his manipulation of words to destroy those around him. In the end, his plan was unveiled, however it was too late the deeds were done. Iago has the last laugh, his gift of language he keeps to himself "Demand me nothing. What you know, you know. From this time forth I never will speak word". He laughs knowing that he will never give the others the satisfaction of knowing why he did this. Evil is triumphant at the end of Othello.

Franklin Roosevelts New Deal Essays -- American History

It was called "relief." Franklin Roosevelt's New Deal provided relief to millions of Americans who had lost their homes, their jobs, and their hope. Many others felt that the radical new policies of FDR threatened the sanctity of the Constitution and free enterprise. Roosevelt's New Deal policies had many critics but among the most vocal were groups like the American Liberty League and powerful Socialists who argued that the New Deal policies either went too far or not far enough in solving the problems that faced the nation. Roosevelt's critics came from both ends of the political spectrum. The American Liberty League was an opposing group made up of conservative businessmen and corporate leaders. Believing that the free enterprise system was being attacked, they accused Roosevelt of trying to install a dictatorship in place of the federal government. In an excerpt from a 1935 article in Fortune magazine, the Roosevelt Administration is thought to be a government of men and not laws. The author compares Roosevelt to a dictator and calls his theory of federal administration "menacing and dangerous". Another political cartoon printed in the June 1936 issue of Current History, ridicules the Liberty League as being alarmist in accusing Roosevelt of bringing communism into the country. Herbert Hoover, a former president, agreed with the conservative ideas of this group. He disagreed with New Deal Legislation such as the Agricultural Adjustment Act (AAA) or the National Industrial Recovery Act (NIRA). The basic idea of these New Deal programs was to lower the supply of goods to the current, depressed level of consumption. Under the AAA, the government sought to raise farm prices by paying farmers not to grow surplus crops. Other ... ...ved that Roosevelt did not care about ending poverty, but instead was more concerned about the fortunes of his wealthy associates. Known as being the most dramatic and innovative movement in modern history, the New Deal helped Americans find a new sense of hope for the future that was once thought to be forever lost. Although the New Deal didn't necessarily end the Great Depression, it successfully played a major role in relieving the distress of unemployment and poverty for many. However, it was the first time that government had played such an active role in the nation's economy and because of that many worried about the future of the nation. Some of Roosevelt's experimental programs are still in effect today. Programs such as Social Security, the FDIC and the SEC have become an integral part of society and they play as important a role today as they did in 1935.

High School Internet Censorship Essays -- Argumentative Persuasive Top

High School Internet Censorship       The common image that comes to mind on the topic of censorship is that of book burning. Dating back to ancient times, the easiest way to deal with unwanted writings has been to get rid of them, usually by heaping them into a blazing pyre. In his most famous science fiction novel, Fahrenheit 451, Ray Bradbury warns of a futuristic society where all literature is destroyed under a kerosene flame and the citizens' freedoms are kept in check by the lack of written information. In fear of this kind of totalitarianism, many bibliophiles have fought against all manners of censorship, wielding the first amendment and the rights recognized by our fore-fathers. But with the technological advances of this the last decade of the twentieth century and the up welling of a new informational medium comes a new twist to the struggle for freedom of expression.    The inherent educational value of the Internet is being realized in schools across the country. The vast web of information is easily accessible and is quickly taking the place of traditional library resources, because of its current events and diverse views. Understanding the importance of this new technology, the Clinton administration is pushing for school Internet connection with the goal of "more than 97 percent of public schools connected by the year 2000 (Hoffman 15)." However, serious problems arise due to the very nature of the Net. Alongside the educational and commercial resources are sites with pornography, criminal advocacy, and illegal drug manufacturing information. According to Syllabus magazine, "a keystone question becomes how to deal with this richness and diversity of information and interchanges while providing a safe e... ...ndividuals is a far better educational goal than developing 'regulated' individuals (Grinnell)." While high school students are learning other skills to prepare them for the rest of their lives, they can also learn, through a powerful medium like the Internet, responsibility. In this way students can also realize the dimensions of their freedom of expression and inalienable rights, that are so very often taken for granted.    Bibliography Bruce, Marty (1999). Censorship on the Internet. [Online] Available: http://www.purplenet.net/~marty/ip.htm Grinnel, Curt. Internet Issues: Hotchkiss High School Internet Policy Hoffman, Ellen. "The Dark Side of the Internet: Controls on Student Access." Syllabus High School Edition. September, 1999. pp14-17. Net Censorship Crisis. [Online] Hotwired. Available: http://www.hotwired.com/special/indecent/dcpc.html High School Internet Censorship Essays -- Argumentative Persuasive Top High School Internet Censorship       The common image that comes to mind on the topic of censorship is that of book burning. Dating back to ancient times, the easiest way to deal with unwanted writings has been to get rid of them, usually by heaping them into a blazing pyre. In his most famous science fiction novel, Fahrenheit 451, Ray Bradbury warns of a futuristic society where all literature is destroyed under a kerosene flame and the citizens' freedoms are kept in check by the lack of written information. In fear of this kind of totalitarianism, many bibliophiles have fought against all manners of censorship, wielding the first amendment and the rights recognized by our fore-fathers. But with the technological advances of this the last decade of the twentieth century and the up welling of a new informational medium comes a new twist to the struggle for freedom of expression.    The inherent educational value of the Internet is being realized in schools across the country. The vast web of information is easily accessible and is quickly taking the place of traditional library resources, because of its current events and diverse views. Understanding the importance of this new technology, the Clinton administration is pushing for school Internet connection with the goal of "more than 97 percent of public schools connected by the year 2000 (Hoffman 15)." However, serious problems arise due to the very nature of the Net. Alongside the educational and commercial resources are sites with pornography, criminal advocacy, and illegal drug manufacturing information. According to Syllabus magazine, "a keystone question becomes how to deal with this richness and diversity of information and interchanges while providing a safe e... ...ndividuals is a far better educational goal than developing 'regulated' individuals (Grinnell)." While high school students are learning other skills to prepare them for the rest of their lives, they can also learn, through a powerful medium like the Internet, responsibility. In this way students can also realize the dimensions of their freedom of expression and inalienable rights, that are so very often taken for granted.    Bibliography Bruce, Marty (1999). Censorship on the Internet. [Online] Available: http://www.purplenet.net/~marty/ip.htm Grinnel, Curt. Internet Issues: Hotchkiss High School Internet Policy Hoffman, Ellen. "The Dark Side of the Internet: Controls on Student Access." Syllabus High School Edition. September, 1999. pp14-17. Net Censorship Crisis. [Online] Hotwired. Available: http://www.hotwired.com/special/indecent/dcpc.html

Unit 74

Unit 74 – Support individuals to live at home Understand the principles of supporting individuals to live at home 1. 1 Describe how being supported at home can benefit an individual There are a few examples of how being supported at home can be beneficial: * More independence * More time spent with loved ones * A greater sense of normality * Able to maintain a little more control over daily routine * Surrounded by own possessions with fond memories etc * No interruptions or noise from other ‘patients or residents' * More likely to get visits from friends and family Some people don't like hospitals etc. 1. 2 Compare the roles of people and agencies who may be needed to support an individual to live at home 1. 3 Explain the importance of providing information about benefits, allowances and financial planning which could support individuals to live at home 1. 4 Explain how Risk-management contributes to supporting individuals to live at home Be able to contribute to plannin g support for living at home 2. 1 Identify with an individual the strengths, skills and existing networks they have that could support them to live at home 2. Identify with an individual their needs that may require additional support and their preferences for how the needs may be met 2. 3 Agree with the individual and others the risks that need to be managed in living at home and ways to address them Be able to work with individuals to secure additional services and facilities to enable them to live at home 3. 1 Support the individual and others to access and understand information about resources, services and facilities available to support the individual to live at home 3. Work with the individuals and others to select resources, services and facilities that will meet the individual’s needs and minimise risks 3. 3 Contribute to completing paperwork to apply for required resources, facilities and services in a way that promotes active participation 3. 4 Obtain permission t o provide additional information about the individual in order to secure resources, services and facilities Be able to work in partnership to introduce additional services for individuals living at home 4. 1 Agree roles and responsibilities for introducing dditional support for an individual to live at home 4. 2 Introduce the individual to new resources, services and facilities or support groups 4. 3 Record and report on the outcomes on additional support measures in required ways Be able to contribute to reviewing support for living at home 5. 1 Work with the individual and others to agree methods and timescales for ongoing review 5. 2 Identify any changes in an individual’s circumstances that may indicate a need to adjust the type or level of support 5. 3 Work with the individual and others to agree revisions to the support provided

Smu Solved Assignments

MB0044 – Production & Operations Management Assignment set – 1 1. What are the components of systems productivity? Explain how CAD and CIM help in improving productivity. Production management encompasses all activities which go into conversion of a sate of inputs into outputs which are useful to meet human needs. It involves the identification of the perquisite materials, knowledge of the processes, and installation of equipments necessary to convert or transform the materials to products. System productivity is generally expressed as the ratio of outputs to inputs.Productivity can be calculated for a single operation, a functional unit, a department division or a plant. It is a measure of the efficiency of the system and looks at the economies achieved during the processes. Every process will have number of contributors-people machines, facilitating goods, ancillary equipments, technology, etc. Which help in achieving maximum productivity – each element attempt ing to enhance the contribution of other elements? Enhancement of productivity is achieved by either reducing the inputs for the same output or increasing the output by using the same input. Opportunities exist at all stages of the workflow.The entire system of introduce measures for increasing productivity. However in actual manufacturing situations, the inefficiencies will have cascading effect in hampering productivity. Communication, effective review processes and innovative methods will ensure optimization of resources. Capital productivity: Capital deployed in plant, machinery, buildings and the distribution system as well as working capital are components of the oust of manufacture and need to be productive. Demand fluctuations, uncertainties of production owing to breakdowns and inventories being crated drag the productivity down.Therefore, strategies are needed to maximize the utilization of the funds allotted towards capital. Adapting to new technologies, outsourcing and b alancing of the workstations to reduce the proportion of idle times on equipments are the focus of this section. Computers in design and manufacturing applications make it possible to remove much of the tedium and manual labor involved. For example, the many design specifications, blueprints, material lists, and other documents needed to build complex machines can require thousands of highly technical and accurate drawings and charts.If the engineers decide structural components need to be changed, all of these plans and drawings must be changed. Prior to CAD/CAM, human designers and draftspersons had to change them manually, a time consuming and error-prone process. When a CAD system is used, the computer can automatically evaluate and change all corresponding documents instantly. In addition, by using interactive graphics workstations, designers, engineers, and architects can create models or drawings, increase or decrease sizes, rotate or change them at will, and see results inst antly on screen.CAD is particularly valuable in space programs, where many unknown design variables are involved. Previously, engineers depended upon trial-and-error testing and modification, a time consuming and possibly life-threatening process. However, when aided by computer simulation and testing, a great deal of time, money, and possibly lives can be saved. Besides its use in the military, CAD is also used in civil aeronautics, automotive, and data processing industries. CAM, commonly utilized in conjunction with CAD, uses computers to communicate instructions to automated machinery.CAM techniques are especially suited for manufacturing plants, where tasks are repetitive, tedious, or dangerous for human workers. Computer integrated manufacturing (CIM), a term popularized by Joseph Harrington in 1975, is also known as Autofacturing. CIM is a programmable manufacturing method designed to link CAD, CAM, industrial robotics, and machine manufacturing using unattended processing wo rkstations. CIM offers uninterrupted operation from raw materials to finished product, with the added benefits of quality assurance and automated assembly. 2. What do you understand by ‘industry best practice’?Briefly explain different types of Benchmarking. Industry best practice: Each industry would have developed over years or decades. Materials would have changed, processes would have changed. As all products or services are meant to serve needs of the customers, they undergo continuous changes – both in shapes and features. Because of research that is conducted, materials and methods go on improve incessarily. The companies that were at the force innovate to stay in business as new entrants would be adopting the latest techniques that the pioneers had taken decades to establish.So the practices adopted by various firms in any industry would end up adopting almost similar methods of getting an output required. Such practices would get refined to great extent giving rise what we call industry best practices. These tend to get stabilized or changed owning to the development of new equipments which are designed and manufacturers of those with an eye on growing markets which demand higher quality and reduced prices. Competition benefits those who can use all these to their advantage. Industry best practices open up the field for benchmarking by companies which need to improve their performance.Bench Marking: It is a method of measuring a company’s processes, methods, procedures and in a way all functions in great detail. Benchmarking is used to understand how these got into the system and what circumstances brought them about. It is a learning process with a few to find out whether some of the reasons have changed and bring in new processes for improvement.. The metrics that could be used are – number of pieces per hour, cost per unit, number of breakdowns per week, customer alienation during a week, return on investment, numb er of returns from customers in a month, inventory turnover, and many others.As can be seen the figures as found above determine the efficiency of the organisation. To keep focused, many organizations, especially the large ones, select a few processes for purposes of benchmarking. This helps in ensuring constant and deep attention to those aspects which are to be dealt with. The following are the types of benchmarking firms consider. Types of benchmarking: †¢ Process benchmarking – the initiating firm focuses its observation and investigation of business processes with a goal of identifying and observing the best practices from one or more benchmark firms.Activity analysis will be required where the objective is to benchmark cost and efficiency; increasingly applied to back-office processes where outsourcing may be a consideration. †¢ Financial benchmarking – performing a financial analysis and comparing the results in an effort to assess your overall competi tiveness and productivity. †¢ Benchmarking from an investor perspective- extending the benchmarking universe to also compare to peer companies that can be considered alternative investment opportunities from the perspective of an investor. Performance benchmarking – allows the initiator firm to assess their competitive position by comparing products and services with those of target firms. †¢ Product benchmarking – the process of designing new products or upgrades to current ones. This process can sometimes involve reverse engineering which is taking apart competitors products to find strengths and weaknesses. †¢ Strategic benchmarking – involves observing how others compete. This type is usually not industry specific, meaning it is best to look at other industries. Functional benchmarking – a company will focus its benchmarking on a single function to improve the operation of that particular function. Complex functions such as Human Resour ces, Finance and Accounting and Information and Communication Technology are unlikely to be directly comparable in cost and efficiency terms and may need to be disaggregated into processes to make valid comparison. †¢ Best-in-class benchmarking – involves studying the leading competitor or the company that best carries out a specific function. Operational benchmarking – embraces everything from staffing and productivity to office flow and analysis of procedures performed. 3. List out the various automated systems for transfer of materials in the production plant. What do you understand by Line Balancing? Explain with an example. About the automated flow lines we can say it is a machine which is linked by a transfer system which moves the parts by using handling machines which are also automated, we have an automated flow line. Human intervention ma is needed to verify that the operations ate taking place according to standards.When these can be achieved with the h elp of automation and the processes are conducted with self regulation, we will have automated flow lines established. In fixed automation or hard automation, where one component is manufactured using services operations and machines it is possible to achieve this condition. We assume that product life cycles are sufficiently stable to interest heavily on the automate flow lines to achieve reduces cast per unit. Product layouts ate designed so that the assembly tasks are performed in the sequence they are designed at each station continuously.The finished item came out at the end of the line. In automated assembly lines the moving pallets move the materials from station to station and moving arms pick up parts, place them at specified place and system them by perusing, riveting, & crewing or even welding. Sensors will keep track of their activities and move the assembles to the next stage. The machines are arranged in a sequence to perform operations according to the technical requi rements. The tools are loaded, movements are effected, speeds controlled automatically without the need for worker’s involvement.The flexibility leads to better utilization of the equipments. It reduces the numbers of systems and rids in reduction of investment as well as a space needed to install them. One of the major cancers of modern manufacturing systems is to be able to respond to market demands which have uncertainties. Prototyping is a process by which a new product is developed in small number so as to determine the suitability of the materials, study the various methods of manufactured, type of machinery required and develop techniques to over come problems that my be encountered when full scale manufacture is undertaken.Prototypes do meet the specification of the component that enters a product and performance can be measured on these. It helps in con be reforming the design and any shortcomings can be rectified at low cost. Flexibility has three dimensions in the manufacturing field. They are variety, volume and time. There demands will have to be satisfied. In that sense they become constraints which restrict the maximization of productivity. Every business will have to meet the market demands of its various products in variety volumes of different time.Flexibility is also needed to be able to develop new products or make improvements in the products fast enough to cater to shifting marker needs. Manufacturing systems have flexibility built into them to enable organization meet global demand. You have understood how the latest trends in manufacturing when implemented help firms to stay a head in business. 4. Explain the different types of Quality Control Tools with examples? How do Crosby’s absolutes of quality differ from Deming’s principles?Quality Control (QC) is a system of routine technical activities, to measure and control the quality of the inventory as it is being developed. The QC system is designed to: Provide routi ne and consistent checks to ensure data integrity, correctness, and completeness; Identify and address errors and omissions; Document and archive inventory material and record all QC activities. The following seven are considered basic tools for achieving quality. Flow Chart Check sheet Histogram Pareto Analysis Scatter Diagram Control Chart Cause and Effect Diagram Flow Chart It is a visual representation of process showing the various steps.It helps in locating the points at which a problem exists or an improvement is possible. Detailed data can be collected, analyzed and methods for correction can be developed. A sample is shown below lists out the various steps or activities in a particular job. It classifies them as a procedure or a decision. Each decision point generates alternatives. Criteria and Consequences that go with decision are amenable to evaluation for purposes of assessing quality. The flow chart helps in pin-pointing the exact at which errors have crept in. A simpl e chart is shown below. Check SheetThese are used to record the number of defects, types of defects, locations at which they are occurring, times at which they are occurring, workmen by whom they are occurring. It keeps a record of the frequencies of occurrence with reference to possible defect causing parameter. It helps to implement a corrective procedure at the point where the frequencies are more, so that the benefit of correct will be maximum. A sample sheet is shown below. Histogram Histograms are graphical representations of distribution of data. They are generally used to record huge volumes of data about a process.They reveal whether the pattern of distribution – whether there is a single peak, or many peak and also the extent of variation around the peak value. This helps in identifying whether the problem is serious. When used in conjunction with comparable parameters, the visual patterns help us to identify the problem which should be attended to. Pareto Analysis This is a tool for classifying problem areas according to the degree of importance and attending to the most important. Pareto principle, also called 80-20 rule, states that 80 percent of the problems that we encounter arise out of 20 percent of items.If we find that, in a day, we have 184 assemblies have given problems and there are 11 possible causes, it is observed that 80 per cent of them i. e. 147 of them have been caused by just 2 or 3 of them. It will be easy to focus on these 2 or three and reduce the number of defects to a great extent. When the cause of these defects have been attended, we will observe that some other defect Scatter Diagram These are used when we have two variables and want to know the degree of relationship between them. We can determine if there is cause and effect relationship between and its extent over a range of values.Sometimes, we can observe that there is no relationship, in which we can change one parameter being sure that it has no effect on the other parameter. Control Charts These are used to verify whether a process is under control. Variables when they remain within a range will render the product maintain the specifications. This is the quality of conformance. The range of permitted deviations is determined by design parameters. Samples are taken and the mean and range of the variable of each sample (subgroup) is recorded. The mean of the means of the samples gives the control lines. Assuming normal distribution, we expect 99. 7 per cent of all values to lie within the UCL when we take 3 standard deviations – Upper Control Limit – and LCL – Lower Control Limit. The graphical representation of data helps in changing settings to bring back the process closer to the target. Cause and Effect Diagram This is a diagram in which all possible causes are classified on quality characteristics which lead to a defect. These are arranged in such a way that different branches — the causes are – le ading the stem in the direction of the discovery of the problem. When each of them is investigated thoroughly we will be able to pinpoint some factors which cause the problem.We will also observe that a few of them will have cumulative effect or even a cascading effect. Deming Wheel Deming’s approach is summarized in his 14 points. Constancy of purpose for continuous improvement Adopt the TQM philosophy for economic purposes Do not depend on inspection to deliver quality Do not award any business based on price alone Improve the system of production and service constantly Conduct meaningful training on the job Adopt modern methods of supervision and leadership Remove fear from the minds of everyone connected with the organisation Remove barriers between departments and peopleDo not exhort, repeat slogans and put up posters. Do not set up numerical quotas and work standards Give pride of workmanship to the workmen Education and training to be given vigorously State and exhibit top management’s commitment for quality and productivity Using the above principles, Deming gave a four step approach to ensure a purposeful journey of TQM. The slope is shown to indicate that if efforts are let up the program will roll back Plan – means that a problem is identified, processes are determined and relevant theories are checked out. Do – means that the plan is implemented on a trial basis.All inputs are correctly measured and recorded. Check/Study/Analyze – means that the trials taken according to the plan are in accordance with the expected results. Act – When all the above steps are satisfactory regular production is started so that quality outcomes are assured Crosby’s Absolutes of Quality Like Deming, he also lays emphasis on top management commitment and responsibility for designing the system so that defects are not inevitable. He urged that there be no restriction on spending for achieving quality. In the long run, main taining quality is more economical rather than compromising on its achievement.His absolutes can be listed as under. Quality is conformance to requirements – not ‘goodness’. Prevention, not appraisal, is the path to quality. Quality is measured as the price paid for non-conformance and as indexes. Quality originates in all factions – not quality department. There are no quality problems people, design, process create problems. Crosby also has given 14 points similar to those of Deming. His approach emphasizes on measurement of quality, increasing awareness, corrective action, error cause removal and continuously reinforcing the system, so that advantages derived are not lost over time.He desires that the quality management regimen should improve the overall health of the organization and prescribed a vaccine. The ingredients are: Integrity – honesty and commitment to produce everything right first time, every time. Communication – Flow of inf ormation between departments, suppliers, customers – helps in identifying opportunities. Systems and operations – These should bring in a quality environment – so that nobody is comfortable with anything less than the best. 5. Define project cycle, project management, and scope of project. List the various project management knowledge areas?What are the reasons for failure of a project? Project Cycle – A project cycle basically consists of the various activities of operations, resources and the limitations imposed on them. Definition of â€Å"Project Management† It is the practice of controlling the use of resources, such as cost, time, manpower, hardware and software involved in a project, that start with a problem statement and end with delivery of a complete product. Project management involves understanding its scope and various processes in the project cycle. Project Management DefinitionAs per PMBOK (Project Management — Body of Knowle dge, defined by PMI – Project Management Institute) : â€Å"Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. As per DIN 69901 (German Organization for Standardization): â€Å"Project management is the complete set of tasks, techniques, tools applied during project execution† Scope – It refers to the various parameters that affect the project in its planning, formulation and executions, Like:- The range of one's perceptions, thoughts, or actions.Breadth or opportunity to function. See Synonyms at room. The area covered by a given activity or subject. See Synonyms at range. The length or sweep of a mooring cable. Informal A viewing instrument such as a periscope, microscope, or telescope. Before knowing the reasons of failure we have to know about project. Project is a set of activities which are networked in order and aimed towards achieving goal of a project. Now, the reasons ar e project failure: Incidence of Project failure Projects being initiated of random at all levels Project objective not in line with business objectiveProject management not observed Project manager with no prior experience in the related project Non- dedicated team Lack of complete support from clients Factors contributing to project success not emphasized: Project objective in alignment with business objective Working within the framework of project management methodology Effective scoping planning, estimation, execution, controls and reviews, project bottlenecks Communication and managing expectations effectively with clients, team merits and stake holders Prior expectance of PM in a similar projectOverview of information and communication Technologies (ICT) project: Involve information and communication technologies such as the word wide web, e-mail, fiber-optics satellites. ii) Enable societies to produce, access, adapt and apply information in greater amount, more rapidly and a t reduce casts. iii) Offer enormous opportunities for enhancing business and economic viability. iv) Common problems encountered during projects. v) No prioritization of project activity from an organizational position. vi) One or more of the stages in the project mishandled. vii) Less qualified non-dedicated manpower. iii) Absence of smooth flow of communication between the involved parties. These basic reasons lead a project to failures. In the project failures business management and project management is directly involved. From the management point of view it is basic things to care above topics to success of a project. Project is the core business of a company. 6. Explain the various phases in project management life cycle. Explain the necessity and objectives of SCM. This is the initial phase of any project. In this phase information is collected from the customer pertaining to the project and the requirements are analyzed.The entire project has to be planned and it should be done in a strategic manner. The project manager conducts the analysis of the problem and submits a detailed report to the top project justification, details on what the problem is a method of solving the problem, list of the objectives to be achieved, project budget and the success rate of completing the project. The report must also contain information and the project feasibility, and the risks involved in the project. Project management life cycle is the integrated part of management. It is attach with project responsibility or failure of a project.The important tasks of this phase are as follows: Specification Requirements Analysis (SRA): It has to be conducted to determine the essential requirements of a project in order to achieve the target. Feasibility study: To analyze whether the project is technically, economically and practically feasible to be undertaken. Trade off analysis: To understand and examine the various alternatives which could be considered. Estimation: To esti mate the project cost, effort requires for the project and functionality of various process in the project. System design: Choose a general design that can fusil the requirements.Project evolution: Evaluate the project in terms of expected profit, cost and risks involved marketing phase. A project proposal is prepared by a group of people including the project manager. This proposal has to contain the strategies adopted to market the product to the customers. Design phase: This phase involves the study of inputs and outputs of the various project stages. Execution phase: In this phase the project manager and the teams members work on the project objectives as per the plan. At every stage during the execution reports are prepared. Control: Inspecting, Testing and Delivery phase during this phase.The project team works under the guidance of the project manager. The project manager has to ensure that the team working under his, implements the project designs accurately, the project man ager has to ensure ways of managing the customer, perform quality control work. Closure and post completion analysis phase upon satisfactory completion and delivery of the intended product or service the staff performance has to be evaluated. Document the lessons from the project. Prepare the reports on project feedback analysis followed by the project execution report. The phase which involve in the above are:The preparation stage involves the preparation and approval of project outline, project plan and project budget. The next stage involves selecting and briefing the project team about the proposals followed by discussions on the roles and responsibility of the project member and the organization. The project management life cycle: A Life cycle of a project consists of the following: Understanding the scope of the project Establishing objectives of the project Formulating and planning various activities Project execution and Monitor and control the project resources. Risk Manage ment:-Risk is defined in ISO 31000 as the effect of uncertainty on objectives (whether positive or negative). Risk management can therefore be considered the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary.Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actua rial assessments, or public health and safety. The strategies to manage risk include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk.Certain aspects of many of the risk management standards have come under criticism for having no measurable improvement on risk even though the confidence in estimates and decisions increase. Necessity and objectives of SCM:- SCM is the abbreviation of supply chain Management. It is considered by many express worldwide as the ultimate solution towards efficient enterprise management. SCM is required by and enterprise as a tow to enhance management effectiveness with a following organizational objective: Reduction of inventory:-Enactment in functional effectiveness of existing systems like ERP, Accounting.Software and Documentation like financial reports statements ISO 9000 Documents etc. Enhancement of participation level and empowerm ent level:- Effective integration of multiple systems like ERP, communication systems, documentation system and secure, Design R systems etc. Better utilization of resources- men, material, equipment and money. Optimization of money flow cycle within the organization as well as to and from external agencies. Enhancement of value of products, operations and services and consequently, enhancements of profitability.Enhancement of satisfaction level of customer and clients, supporting institutions, statutory control agencies, supporting institutions, statutory control agencies, suppliers and vendors, employees and executives . Enhancement of flexibility in the organization to help in easy implementation of schemes involving modernization, expansion and divestment, merges and acquisitions Enhancement of coverage and accuracy of management information systems. With the objectives of SCM its implementation are required.Implementation is in the form of various functional blocks of an organi zation interpenetrated through which a smooth flow of the product development is possible. A relatively new SCM option involves web based software with a browser interface. Several electronic marketplaces for buying and selling goods and materials. Steps involved in the implementation of SCM:- There is many steps which involved in SCM implementation are- Business Process, sales and marketing.Logistics, costing, demand planning, trade- off analysis, environmental requirement, process stability, integrated supply, supplier management, product design, suppliers, customers, material specifications, etc. Some important aspect of SCM- The level of competition existing in the market and the impact of competitive forces on the product development. Designing and working on a strategic logic for better growth through value invention. Working out new value curve in the product development along with necessary break point. Using it to analyze markets and the economies in product design.Time, cu stomer, quality of product and the concept of survival of fittest. Steps of SCM principals: Group customer by need: Effective SCM groups, customer by tie tinct service meets those particular segment. Customize the logistics networks: In designing their logistics network, companies need to focus on the service requirement and profit potential of the customer segments identified. Listen to signals of market demand and plan accordingly- sales and operations planners must monitor the entire supply chain to detect early warning signals of changing customer demand and needs.Differentiate the product closer to the customer: companies today no longer can afford to stock pile inventory to compensate for possible forecasting errors, instead, they need to postpone product differentiation in the manufacturing. Process closer to actual customer demand. Strategically manage the source of supply: by working closely with their key suppliers to reduce the overall casts of owning materials and servic es; SCM maximizes profit margins both for themselves, and their supplies.Develop a supply chain wide technology strategy: as one of the cornerstones of successful SCM information technology must be able to support multiple levels of decision making. Adopt channel spanning performance measures- Excellent supply performance measurement systems do more than just monitor internal functions. They apply performance criteria that embrace bathe service and financial metrics, including as such as each accounts true profitability. MB0045 – Financial Management Assignment set – 1 Q. 1 Write the short notes on 1. Financial management 2. Financial planning 3. Capital structure 4. Cost of capital 5. Trading on equity.Ans: 1. Financial Management Financial Management is Planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. The management of the finances of a business / organization in order to achieve financial objectives. Financia l Management is the efficient and effective planning and controlling of financial resources so as to maximize profitability and ensuring liquidity for an individual(called personal finance), government(called public finance) and for profit and non-profit organization/firm (called corporate or managerial finance). Generally, it involves balancing risks and profitability.The decision function of financial management can be divided into the following 3 major areas: INVESTMENT DECISION 1. Determine the total amount of assets needed by a firm hence closely tied to the allocation of funds 2. Two type of investment decisions namely: †¢ Capital Investment decisions re: large sums, non routine, longer term, critical to the business like purchase of plant and machinery or factory †¢ Working Capital Investment decisions re: more routine in nature, short term but are also very critical decisions like how much and how long to invest in inventories or receivables   FINANCING DECISION . After deciding on the amount and type of assets to buy, the financial manager needs to decide on HOW TO FINANCE these assets with the sources of fund 2. Financing decisions for example: †¢ Whether to use external borrowings/debts or share capital or retained earnings †¢ Whether to borrow short, medium or long term †¢ What sort of mix – all borrowings or part debts part share capital or 100% share capital †¢ The needs to determine how much dividend to pay out as this will directly affects the financial decision.Financial Planning Financial Planning is an exercise aimed to ensure availability of right amount of money at the right time to meet the individual’s financial goals Concept of Financial Planning Financial Goals refer to the dreams of the investor articulated in financial terms. Each dream implies a purpose, and a schedule of funds requirements for realising the purpose Asset Allocation refers to the distribution of the investor’s wea lth between different asset classes (gold, property, equity, debt etc. Portfolio Re-balancing is the process of changing the investor’s asset allocation Risk Tolerance / Risk Preference refers to the appetite of the investor for investment risk viz. risk of loss Financial Plan Is a road map, a blue print that lists the investors’ financial goals and outlines a strategy for realising them Quality of the Financial Plan is a function of how much information the prospect shares, which in turn depends on comfort that the planner inspires Capital Structure Capital structure of a firm is a reflection of the overall investment and financing strategy of the firm.Capital structure can be of various kinds as described below: – Horizontal capital structure: the firm has zero debt component in the structure mix. Expansion of the firm takes through equity or retained earnings only. – Vertical capital structure: the base of the structure is formed by a small amount of e quity share capital. This base serves as the foundation on which the super structure of preference share capital and debt is built. – Pyramid shaped capital structure: this has a large proportion consisting of equity capita; and retained earnings. Inverted pyramid shaped capital structure: this has a small component of equity capital, reasonable level of retained earnings but an ever-increasing component of debt. SIGNIFICANCE OF CAPITAL STRUCTURE: – Reflects the firm’s strategy – Indicator of the risk profile of the firm – Acts as a tax management tool – Helps to brighten the image of the firm. FACTORS INFLUENCING CAPITAL STRUCTURE: – Corporate strategy – Nature of the industry – Current and past capital structure Cost of Capital Cost of capital is the rate of return the firm requires from investment in order to increase the value of the firm in the market place.In economic sense, it is the cost of raising funds required to finance the proposed project, the borrowing rate of the firm. Thus under economic terms, the cost of capital may be defined as the weighted average cost of each type of capital. There are three basic aspects about the concept of cost 1. It is not a cost as such: The cost of capital of a firm is the rate of return which it requires on the projects. That is why; it is a ‘hurdle’ rate. 2. It is the minimum rate of return: A firm’s cost of capital represents the minimum rate of return which is required to maintain at least the market value of equity shares. . It consists of three components. A firm’s cost of capital includes three components a. Return at Zero Risk Level: It relates to the expected rate of return when a project involves no financial or business risks. b. Business Risk Premium: Business risk relates to the variability in operating profit (earnings before interest and taxes) by virtue of changes in sales. Business risk premium is determined b y the capital budgeting decisions for investment proposals. c. Financial Risk Premium: Financial risk relates to the pattern of capital structure (i. e. debt-equity mix) of the firm, In general, a firm which has higher debt content in its capital structure should have more risk than a firm which has comparatively low debt content. This is because the former should have a greater operating profit with a view to covering the periodic interest payment and repayment of principal at the time of maturity than the latter. Trading on Equity When a co. uses fixed interest bearing capital along with owned capital in raising finance, is said â€Å"Trading on Equity†. (Owned Capital = Equity Share Capital + Free Reserves )Trading on equity represents an arrangement under which a company uses funds carrying fixed interest or dividend in such a way as to increase the rate of return on equity shares. It is possible to raise the rate of dividend on equity capital only when the rate of intere st on fixed – interest – bearing – security is less than the rate of return earned in business. †¢Two other terms: †¢Trading on Thick Equity :-  When borrowed capital is less than owned capital †¢Trading on Thin Equity :-  When borrowed capital is more than owned capital, it is called Trading on thin Equity.Q. 2 a. Write the features of interim divined and also write the factors (08 Marks) Influencing divined policy? b. What is reorder level? Ans: a) Usually, board of directors of  company  declares  dividend  in annual general meeting after finding the real net profit position. If boards of directors give dividend for current year before closing of that year, then it is called interim dividend. This dividend is declared between two annual general meetings. Before declaring interim dividend, board of directors should estimate the net profit which will be in future.They should also estimate the amount of  reserves  which will deduct from net profit in  profit and loss appropriation account. If they think that it is sufficient for operating of business after declaring such dividend. They can issue but after completing the year, if profits are less than estimates, then they have to pay the amount of declared dividend. For this, they will have to take loan. Therefore, it is the duty of directors to deliberate with financial consultant before taking this decision.Accounting treatment of interim dividend in final accounts of company:- # First Case  : Interim dividend is shown both in profit and loss appropriation account and balance sheet , if it is outside the  trial balance  in given question. ( a) It will go to debit side of profit and loss appropriation account (b) It will also go to current liabilities head in liabilities side. # Second Case:  Interim dividend is shown only in profit and loss appropriation account, if it is shown in trial balance. ( a) It will go only to debit side of profit and loss appropriation account.If in final declaration is given outside of trial balance and this will be proposed dividend and interim dividend in trial balance will be deducted for writing proposed dividend in profit and loss appropriation account and balance sheet of company, because if we will not deducted interim dividend, then it will be double   deducted from net profit that is wrong and error shows when we will   match balance sheets assets with liabilities. Factors affecting dividend policy. The dividend decision is difficult decision because of conflicting objectives and also because of lack of specific decision-making techniques.It is not easy to lay down an optimum dividend policy which would maximize the long-run wealth of the shareholders. The factors affecting dividend policy are grouped into two broad categories. 1. Ownership considerations 2. Firm-oriented considerations Ownership considerations:  Where ownership is concentrated in few people, there are no problems in identifying ownership interests. However, if ownership is decentralized on a wide spectrum, the identification of their interests becomes difficult. Various groups of shareholders may have different desires and objectives.Investors gravitate to those companies which combine the mix of growth and desired dividends. Firm-oriented considerations:  Ownership interests alone may not determine the dividend policy. A firm’s needs are also an important consideration, which include the following: †¢ Contractual and legal restrictions †¢ Liquidity, credit-standing and working capital †¢ Needs of funds for immediate or future expansion †¢ Availability of external capital. †¢ Risk of losing control of organization †¢ Relative cost of external funds †¢ Business cycles †¢ Post dividend policies and stockholder relationships.The following factors affect the shaping of a dividend policy: Nature of Business:  Companies with unstable earnings adopt dividend policies which are different from those which have steady earnings. Composition of Shareholding:  In the case of a closely held company, the personal objectives of the directors and of a majority of shareholders may govern the decision. To the contrary, widely held companies may take a dividend decision with a greater sense of responsibility by adopting a more formal and scientific approach. Investment Opportunities:  Many companies retain earnings to facilitate planned expansion.Companies with low credit ratings may feel that they may not be able to sell their securities for raising necessary finance they would need for future expansion. So, they may adopt a policy for retaining larger portion of earnings. Similarly, is a company has lucrative opportunities for investing its funds and can earn a rate which is higher than its cost of capital, it may adopt a conservative dividend policy. Liquidity:  This is an important factor. There are companies, which are profitable but cannot generate sufficient cash, since profits are to be reinvested in fixed assets and working capital to boost sales.Restrictions by Financial Institutions:  Sometimes financial institutions which grant long-term loans to a company put a clause restricting dividend payment till the loan or a substantial part of it is repaid. Inflation:  In period of inflation, funds generated from depreciation may not be adequate to replace worn out equipment. Under inflationary situation, the firm has to depend upon retained earnings as a source of funds to make up for the shortfall. Consequently, the dividend pay out ratio will tend to be low. Other factors:  Age of the company has some effect on the dividend decision.The demand for capital expenditure, money supply, etc. , undergo great oscillations during the different stages of a business cycle. As a result, dividend policies may fluctuate from time to time. Ans b) Reorder Level This is that level of materials at which a new order for supply of materials is to be placed. In other words, at this level a purchase requisition is made out. This level is fixed somewhere between maximum and minimum levels. Order points are based on usage during time necessary to requisition order, and receive materials, plus an allowance for protection against stock out.The  order point  is reached when inventory on hand and quantities due in are equal to the lead time usage quantity plus the safety   stock quantity. Formula of Re-order Level or Ordering Point: The following two formulas are used for the calculation of  reorder level or point. Ordering point or re-order level = Maximum daily or weekly or monthly usage ? Lead time The above formula is used when usage and lead time are known with certainty; therefore, no safety stock is provided. When safety stock is provided then the following formula will be applicable: Ordering point or re-order level = Maximum daily or weekly or monthly usage ?Lead time + Safety stock Q. 3 Sales Rs. 400, 000 less returns Rs 10, 000, Cost of Goods Sold Rs 300,000, Administration and selling expenses Rs. 20, 000, Interest on loans Rs. 5000, Income tax Rs. 10000, preference dividend Rs. 15,000, Equity Share Capital Rs. 100, 000 @Rs. 10 per share. Find EPS. Sales Rs. 400, 000 less returns Rs 10, 000, Cost of Goods Sold Rs 300,000, Administration and selling expenses Rs. 20, 000, Interest on loans Rs. 5000, Income tax Rs. 10000, preference dividend Rs. 15,000, Equity Share Capital Rs. 100, 000 @Rs. 10 per share. Find EPS. Sales | | |400,000 | | |Less Returns | |10,000 |390,000 | | | | | | | |Less | | | | | |COGS | | |30,000 | | |S | | |20,000 | | |Int on Loan | | |5,000 | | |IT | | |10,000 |325,000 | |Div | | |15,000 | | |ESC | | |100,000 |@ 10/- | |NPAT – Pref Share Div | | | | |No of Shares | | | | | | | | | | |NPAT | | |55,000 | | |less Pref Share Div | |15,000 |40,000 | | | | | | | |EPS | | |40,000 |=Rs. 4/- | | | | |10,000 | | Q. 4 What are the techniques of evaluation of investment? Three steps are involved in the evaluation of an investment: †¢Estimation of cash flows †¢Estimation of the required rate of return (the opportunity cost of capital)   †¢Application of a decision rule for making the choice. The first two steps, discussed in the subsequent chapters, are assumed as given. Thus, our discussion in this chapter is confined to the third step. speifically, we focus on the merits and demerits of various decision rules. Investment decision ruleThe investment decision rules may be referred to as capital budgeting techniques, or investment criteria. A sound appraisal technique should be used to measure the economic worth of an investment project. The essential property of a sound technique is that it should maximize the shareholders’ wealth. The following other characteristics should also be possessed by a sound investment evaluation criterion. †¢ It should consider all cash flows to determine the true pro fitability of the project. †¢ It should provide for an objective and unambiguous way of separating good projects form bad projects. †¢ It should help ranking of projects according to their true profitability. It should recognize the fact that bigger cash flows true profitability. †¢ It should recognize the fact that bigger cash flows are preferable to smaller once and early cash flows are preferable to later ones. †¢ It should help top choose among mutually exclusive projects that project which maximizes the shareholders’ wealth. †¢ It should be a criterion which is applicable to any conceivable investment project independent of other. These conditions will be clarified as we discuss the features of various investment criteria in the following pages. Evaluation criteria A number of investments criteria (or capital budgeting techniques) are in use in proactive. They may be grouped in the following two categories: 1.Discounted cash flow (DCF) criteria à ¢â‚¬ ¢ Net present value (NPV) †¢ Internal rate of return (IIR) †¢ Profitability index (PI) 2. Non-discounted cash flow criteria †¢ Payback period (PB) †¢ Discounted payback period †¢ Accounting rate of return (ARR). Discounted payback is a variation of the payback method. It involves discounted cash flows, but as we shall see later, it is not a true measure of investment profitability. We will show in the following pages that the net present value criterion is the most valid technique of maximizing the shareholders wealth. Problems associated with inadequate working capital Working capital may be regarded as the life blood of business.Working capital is of major importance to internal and external analysis because of its close relationship with the current day-to-day operations of a business. Every business needs funds for two purposes. * Long term   funds are required   to create production facilities through purchase of fixed assets such as plants, ma chineries, lands, buildings & etc * Short term funds are required for the purchase of raw materials, payment of wages, and other day-to-day expenses. . It is other wise known as revolving or circulating capital It is nothing but the difference between current assets and current liabilities. i. e. Working Capital = Current Asset – Current Liability. Businesses use capital for construction, renovation, furniture, software, equipment, or machinery.It is also commonly used to purchase inventory, or to make payroll. Capital is also used often by businesses to put a down payment down on a piece of commercial real estate. Working capital is essential for any business to succeed. It is becoming increasingly important to have access to more working capital when we need it. Q. 5 What are the problems associated with inadequate working capital? A business firm must maintain an adequate level of working capital in order to run its business smoothly. It is worthy to note that both excessi ve and inadequate working capital positions are harmful. Working capital is just like the heart of business. If it becomes weak, the business can hardly prosper and survive.No business can run successfully without an adequate amount of working capital. Danger of inadequate working capital When working capital is inadequate, a firm faces the following problems. Fixed Assets cannot efficiently and effectively be utilized on account of lack of sufficient working capital. Low liquidity position may lead to liquidation of firm. When a firm is unable to meets its debts at maturity, there is an unsound position. Credit worthiness of the firm may be damaged because of lack of liquidity. Thus it will lose its reputation. There by, a firm may not be able to get credit facilities. It may not be able to take advantages of cash discount. Disadvantages of Redundant or Excessive Working Capital 1.Excessive Working Capital means ideal funds which earn no profits for the business and hence the busin ess cannot earn a proper rate of return on its investments. 2. When there is a redundant working capital, it may lead to unnecessary purchasing and accumulation of inventories causing more chances of theft, waste and losses. 3. Excessive working capital implies excessive debtors and defective credit policy which may cause higher incidence of bad debts. 4. It may result into overall inefficiency in the organization. 5. When there is excessive working capital, relations with banks and other financial institutions may not be maintained. 6. Due to low rate of return on investments, the value of shares may also fall. 7.The redundant working capital gives rise to speculative transactions. Disadvantages or Dangers of Inadequate Working Capital 1. A concern which has inadequate working capital cannot pay its short-term liabilities in time. Thus, it will lose its reputation and shall not be able to get good credit facilities. 2. It cannot buy its requirements in bulk and cannot avail of disc ounts, etc. 3. It becomes difficult for the firm to exploit favourable market conditions and undertake profitable projects due to lack of working capital. 4. The firm cannot pay day-to-day expenses of its operations and its creates inefficiencies, increases costs and reduces the profits of the business. 5.It becomes impossible to utilize efficiently the fixed assets due to non-availability of liquid funds. 6. The rate of return on investments also falls with the shortage of working capital. Disadvantages or Dangers of Inadequate or Short Working Capital †¢ Can’t pay off its short-term liabilities in time. †¢ Economies of scale are not possible. †¢ Difficult for the firm to exploit favourable market situations †¢ Day-to-day liquidity worsens †¢ Improper utilization the fixed assets and ROA/ROI falls sharply Q. 6 What is leverage? Compare and Contrast between operating Leverage and financial leverage (10 Marks) ‘Leverage’ is the action of a lever or the mechanical advantage gained by it; it also means ‘effectiveness’ or ‘power’.The common interpretation of leverage is derived from the use or manipulation of a tool or device termed as lever, which provides a substantive clue to the meaning and nature of financial leverage. When an organization is planning to raise its capital requirements (funds), these may be raised either by issuing debentures and securing long term loan 0r by issuing share-capital. Normally, a company is raising fund from both sources. When funds are raised from debts, the Co. investors will pay interest, which is a definite liability of the company. Whether the company is earning profits or not, it has to pay interest on debts. But one benefit of raising funds from debt is that interest paid on debts is allowed as deduction for income tax. When funds are raised by issue of shares (equity) , the investor are paid dividend on their investment. Dividends are paid only when th e Company is having sufficient amount of profit. In case of loss, dividends are not paid. But dividend is not allowed as deduction while computing tax on the income of the Company. In this way both way of raising funds are having some advantages and disadvantages. A Company has to decide that what will be its mix of Debt and Equity, considering the liability, cost of funds and expected rate of return on investment of fund. A Company should take a proper decision about such mix, otherwise it will face many financial problems.For the purpose of determination of mix of debt and equity, leverages are calculated and analyzed. Concept of Financial Leverage Leverage may be defined as the employment of an asset or funds for which the firm pays a fixed cost or fixed return. The fixed cost or return may, therefore be thought of as the full annum of a lever. Financial leverage implies the use of funds carrying fixed commitment charge with the objective of increasing returns to equity sharehold ers. Financial leverage or leverage factor is defined, as the ratio of total value of debt to total assets or the total value of the firm. For example, a firm having a total value of Rs. ,00,000 and a total debt of Rs. 1,00,000 would have a leverage factor of 50 percent. There are difficult measures of leverage such as. i. The ratio of debt to total capital ii. The ratio of debt to equity iii. The ratio of net operating income (earning before interest and taxes) to fixed’ charges) The first two measures of leverage can be expressed either in book v8lue or market value the debt of equity ratio as a measure of financial leverage is more popular in practice. â€Å" Risk & Financial Leverage: Effects of financial Leverage:  The use of leverage results in two obvious effects: i. Increasing the shareholders earning under favorable economic conditions, and ii.Increasing the financial risk of the firm. Suppose there are two companies each having a Rs. 1,00,000 capital structure. O ne company has borrowed half of its investment while the other company has only equity capital: Both earn Rs. 2,00,000 profit. The ratio of interest on the borrowed capital is 10%and the rate of corporate tax 50%. Let us calculate the effect of financial leverage, both in the shareholders earnings and the Company’s financial risk in these two companies. (a) Effect of Leverage on Shareholders Earnings: |  |   |  |Company A |  |Company B | | | | |Rs. | |Rs. |  |Profit before Interest and Taxes | |2,00,000 | |2,00,000 | |  |Equity | |10,00,000 | |5,00,000 | |  |Debt | |—- | |5,00,000 | |  |Interest (10%) | |—- | |50,000 | |  |Profit after interest but before Tax | |2,00,000 | |1,50,000 | |  |Taxes @ 50% | |1,00,000 | |75,000 | Rate of return on Equity of Company A Rs. 1,00,000/Rs. 10,00,000 = 10% Rate of return on Equity of Company B Rs. 75,000/Rs. 5,00,000 = 15% The above illustration points to the favorable effect of the leverage factor on ear nings of shareholders. The concept of leverage is 5 if one can earn more on the borrowed money that it costs but detrimental to the man who fails to do so far there is such a thing as a negative leverage i. e. borrowing money at 10% to find that, it can earn 5%. The difference comes out of the shareholders equity so leverage can be a double-edged sword. b) Effect of Leverage on the financial risk of the company:  Financial risk broadly defined includes both the risk of possible insolvency and the changes in the earnings available to equity shareholders. How does the leverage factor leads to the risk possible insolvency is self-explanatory. As defined earlier the inclusion of more and more debt in capital structure leads to increased fixed commitment charges on the part of the firm as the firm continues to lever itself, the changes of cash insolvency leading’ to legal bankruptcy increase because the financial ‘charges incurred, by the firm exceed the expected earnings. Obviously this leads to fluctuations in earnings’ available to the equity shareholders. Relationship: Financial and Operating leverage:Relationship between financial and operating leverage:  In business terminology, leverage is used in two senses: Financial leverage & Operating Leverage Financial leverage:  The effect which the use of debt funds produces on returns is called financial leverage. Operating leverage:  Operating leverage refers to the use of fixed costs in the operation of the firm. A firm has a high degree of operating leverage if it employs a greater amount of fixed costs. The degree of operating leverage may be defined as the percentage change in profit resulting from a percentage change in sales. This can be expressed as: = Percent Change in Profit/Percent Change in SalesThe degree of financial leverage is defined as the percent change in earnings available to common shareholders that is associated with a given percentage change in EBIT. Thus, operatin g leverage affects EBIT while financial leverage affects earnings after interest and taxes the earnings available to equity shareholders. For this reason operating leverage is sometimes referred to as first stage leverage and financial leverage as second stage leverage. Therefore, if a firm uses a considerable amount of both operating leverage and financial leverage even small changes in the level of sales will produce wide fluctuations in earnings per share (EPS).The combined effect of both these types of leverages is after called total leverage which, is closely tied to the firm’s total risk. MB0046 -Marketing Management Assignment Set – 1 Q. 1 ]a. Explain the different micro-environmental forces with examples. Forces in the micro environment [pic] 1 The Company Remember, in the previous unit we discussed about marketing mix and marketing plan. Safe Express, a leader in the supply chain management solution wants to hold its number one position in the US $ 90 billion Indian logistics market. The company plans to expand its service areas in the coming months. To meet the targets of the marketing plan, other departments of safe express also expanding their horizon.The Company is coming out with logistics parks in different cities; plans to hold seven million square feet of warehousing capacity in the next three years and invest Rs 10 billion in three years to meet those targets. The above example shows that the company’s marketing plan should be supported by the other functional departments also. 2 Intermediaries Marketing intermediaries: These are firms which distribute and sell the goods of the company to the consumer. Marketing intermediaries play an important role in the distribution, selling and promoting the goods and services. Stocking and delivering, bulk breaking, and selling the goods and services to customer are some of the major functions carried out by the middlemen.Retailers, wholesalers, agents, brokers, jobbers and carry for ward agents are few of the intermediaries. Retailers are final link between the company and the customers. Their role in the marketing of product is increasing every day. 3 Publics These are microenvironment groups, which help a company to generate the financial resources, creating the image, examining the companies’ policy and developing the attitude towards the product. We can identify six types of publics 1. Financial publics influence the company’s ability to obtain funds. For example, Banks, investment houses and stockholders are the major financial publics. 2. Media publics carry news and features about the company e. g.Deccan Herald 3. Advertisement regulation agencies, telecom regulation agency( TRAI), and insurance regulation agency(IRDA) of the government 4. Citizen action groups: Formed by the consumer or environmental groups. For example, people for ethical treatment of animals (PETA) or Greenpeace. 5. General publics: a compa